Semiconductor solutions supplier Powerex Inc. plans to invest a minimum of $14 million to modernize and upgrade key assembly and testing capabilities at its facility in Youngwood, Pennsylvania. The company expects the development to create at least 25 new jobs and retain an additional 215 jobs.
One of the last vertically-integrated power semiconductor facilities in the U.S., Powerex will expand a module assembly facility, double its module assembly capacity and grow its module reliability center as part of this project. Powerex supplies discrete devices, modules and high-power semiconductor solutions for many markets, including military power electronics applications, aircraft, alternate energy, electric vehicles, medical power supplies and more.
To support Powerex’s project, Pennsylvania Gov. Josh Shapiro announced a funding offer from the Department of Community and Economic Development (DCED) for a grant of up to $1 million for eligible project costs. The company will also receiving up to $3 million in federal funding from the U.S. Department of Commerce under the CHIPS and Science Act.
“With this funding, we’ll strengthen our production capabilities and create new jobs, offering growth and advancement opportunities for our employees,” Powerex CEO Joseph Wolf said. “This investment empowers us to meet increasing demand with Pennsylvania-made products, building a stronger future for our team and community.”
Since taking office, the Shapiro Administration has secured and announced over $3 billion in private sector investments.
