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Area Development - Site Selection, Facility Planning and Workforce Development

IQE Expands Greensboro, North Carolina, Manufacturing Operations

11/22/2024
Semiconductor manufacturer IQE, Inc. plans to expand its production operations in Greensboro, North Carolina. The $305 million project is expected to create 109 jobs in Guilford County.

The investment will include a new, complementary epitaxy called metal-organic chemical vapor deposition (MOCVD) and would provide a new clean technology for semiconductor chip production to help serve the electric vehicle market.

“Greensboro has proven to be a strategic location for IQE and has provided access to exceptional talent,” said Jutta Meier, Interim CEO of IQE. “We look forward to continuing our partnership with the city as we progress further with our application for Government funding via the CHIPS Act, which along with funding commitments from the State, will provide us with the capital to invest and expand our local footprint.”

A performance-based grant of $275,000 from the One North Carolina Fund will help support the project. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.

“North Carolina has more than 110 companies exporting $1.2 billion of semiconductors and microelectronics around the world,” noted N.C. Commerce Secretary Machelle Baker Sanders. “As one of the top states to do business, this expansion validates our reputation for the best talent and research partnerships that continue to attract and retain advanced manufacturers like IQE.”

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC) on this project were the North Carolina General Assembly, the Commerce Department’s Division of Workforce Solutions, the North Carolina Community College System, Guilford Technical Community College, GuilfordWorks, the City of Greensboro, Guilford County, the Guilford County Economic Development Alliance, the Greensboro Chamber of Commerce and Duke Energy.

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