CORVALLIS, Ore. — Hewlett Packard’s longtime facility in Corvallis is set to receive both state and federal support for expansion and modernization as part of the CHIPS Act, officials announced Tuesday. The company is slated to receive up to $50 million from the Biden administration and another $9.5 million from the state of Oregon.

Biden administration officials said that they’d signed a “non-binding preliminary memorandum of terms” with HP for the Corvallis facility, part of the company’s “lab-to-fab” system of research, development and manufacturing.

The feds estimated that this investment would create almost 150 construction jobs and more than 100 manufacturing jobs. They highlighted HP’s specialization in microfluidics and microelectromechanical systems (MEMS), which could help drive performance and efficiency of semiconductor-based hardware.

“Among other products, the proposed funding would support the manufacturing of silicon devices that are key components of life sciences lab equipment, which are used in drug discovery, single-cell research, and cell line development,” the administration said in a statement.

HP has had a campus in Corvallis since 1976, playing a significant role in some of the company’s earliest commercial successes.

“HP invented its inkjet printer here in Corvallis, and the facility still remains one of the company’s leading research posts, contributing to our state’s leadership in technological innovation,” Oregon Governor Tina Kotek said in a statement. “Oregon is a leader in the semiconductor industry because of our world class talent and strong partnerships with higher education. We are uniquely positioned to enhance national security by helping to grow the country’s semiconductor industry. Thank you to the leadership of the Biden-Harris Administration in making this critical award possible.”

Kotek was in Corvallis on Tuesday for the announcement, joining Laurie E. Locascio, director of the National Institute of Standards and Technology, and several of Oregon’s state and federal lawmakers.

According to HP President and CEO Enrique Lores, the government funding will help accelerate innovation in microfluidics and MEMS technology.

“This proposed investment provides HP with an opportunity to modernize and expand our facility to further invest in our microfluidics technology, which is the study of the behavior and control of fluid on a microscopic scale,” Lores said in a statement. “Microfluidics has the potential to drive revolutionary changes across industries, delivering speed, efficiency and precision to help pave the way for the next generation of innovation in life sciences and technology.”

He did not say how much HP would be investing in the project, but the company intends to claim the Department of the Treasury’s Investment Tax Credit for up to 25% of qualified capital expenditures as it work to power all of its operations around the globe with 100% renewable electricity by 2025.

HP is the latest of several companies to receive a CHIPS Act windfall for expansion in Oregon. Arizona-based Microchip Technology Inc. received $72 million to expand its facility in Gresham, and Intel received a whopping $8.5 billion to invest in its Hillsboro campus — each part of larger investments from the companies in those local facilities.

At the same time, Intel revealed earlier this month that it will slash 15% of its global workforce, accounting for some 15,000 jobs, amid slumping revenue and significant financial losses.