Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

Powerex Upgrades Youngwood, Pennsylvania, Semiconductor Plant

11/26/2024
Powerex Inc., a supplier of discrete devices, modules and high-power semiconductor solutions, plans to upgrade its operations in Youngwood, Pennsylvania. The at least $14 million project is expected to create 25 jobs.

The investment will double the company’s module assembly capacity at its existing facility.

“We’re grateful for Governor Shapiro’s administration and all of our state and local partners for their support, which is enabling small companies like ours to invest in equipment and expand production,” said Joseph Wolf, CEO of Powerex. “With this funding, we’ll strengthen our production capabilities and create new jobs, offering growth and advancement opportunities for our employees. This investment empowers us to meet increasing demand with Pennsylvania-made products, building a stronger future for our team and community.”

To support the project Powerex received a funding offer from the Pennsylvania Department of Community and Economic Development (DCED) for a grant of up to $1 million for eligible project costs. The company is also receiving up to $3 million in federal funding from the U.S. Department of Commerce under the CHIPS and Science Act.

“Since day one, Governor Shapiro and our Administration have been laser focused on sending a strong message that Pennsylvania is open for business,” noted DCED Secretary Rick Siger. “Our investments in companies like Powerex create good jobs for our workers and boost key industries like technology and manufacturing that are part of our Economic Development Strategy. We’re doubling down on critical investments that support the strategy to provide our Commonwealth with the greatest opportunities to succeed.”

Powerex offers high power semiconductor solutions, including IGBTs, HVIGBTs, rectifiers, thyristors, custom power modules and assemblies. The company’s product line includes IGBTs (Insulated Gate Bipolar Transistors), HVIGBTs, rectifiers, thyristors, custom power modules and assemblies.

“Public-private partnerships are critical to growing the Pittsburgh region. Together, we have been and will continue to identify opportunities to leverage local, state, and federal relationships to support existing companies and attract strategic investments within our region’s key sectors — advanced manufacturing, energy, life sciences, and robotics and AI,” added Stefani Pashman, CEO, Allegheny Conference. “Investments in companies like Powerex showcase how southwestern Pennsylvania is positioned to capture investments and ensure winning outcomes for investors across the region and beyond.”

Exclusive Research