iDEAL Semiconductor Devices Expands Lehigh Valley, Pennsylvania, Operations
The company plans to increase its footprint at Ben Franklin Technology Partners of Northeastern Pennsylvania by 15,000-square-feet. iDEAL is taking its technology to full production this year and requires additional space to accommodate its engineering and research and development personnel.
“Decades ago, Pennsylvania was home to the world’s first semiconductor production line; the expansion of iDEAL Semiconductor plays an important role in showcasing the scientific and technological innovation possibilities for the state and country,” said Mark Granahan, co-founder and CEO of iDEAL Semiconductor. “We look forward to working with the state to aggressively pursue CHIPS and Science Act funding as investment into companies such as iDEAL Semiconductor will ensure that the U.S. remains competitive in a sector it conceived long ago.”
The company received a funding proposal from the Pennsylvania Department of Community and Economic Development for a $1.4 million Pennsylvania Industrial Development Authority (PIDA) loan, a $338,000 Pennsylvania First grant and is encouraged to apply for the department’s Manufacturing Tax Credit and Research and Development Tax Credit programs.
“iDEAL Semiconductor’s growth is wonderful for both the company and the commonwealth,” added Neil Weaver, Acting Secretary of the Department of Community and Economic Development . “Companies like iDEAL Semiconductor benefit from Pennsylvania’s strong workforce and ideal northeast location, while Pennsylvanians benefit from the good paying and stable jobs these companies provide. I look forward to seeing iDEAL Semiconductor’s continued growth.”
iDEAL Semiconductor is a fabless semiconductor company focused on delivering break-through levels of power efficiency utilizing new proprietary, patented technology which affords advanced system designers a new palette of performance.
“We’re so pleased to have iDEAL Semiconductor thriving and expanding here in the Lehigh Valley with the support of Ben Franklin and the commonwealth,” said Don Cunningham, President & CEO of the Lehigh Valley Economic Development Corporation (LVEDC). “Our region is home to a growing science and technology sector that is a central part of a diverse Lehigh Valley economy anchored by our more than 700 manufacturers developing everything from high-tech medical instruments to at-home COVID-tests to sophisticated semiconductors.”
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