Bosch, a global technology company, has received up to $225 million in funding from the U.S. Department of Commerce’s CHIPS Act. The company plans to invest the funds in the expansion of its semiconductor manufacturing plant in Roseville, California. The plant will be a significant investment for Bosch, as it aims to increase production capacity and technological advancements.
The CHIPS Act provides funding to semiconductor companies that invest in expanding their operations and production facilities in the United States. The Act aims to help the industry to keep up with global demand for computer chips, which are increasingly being used in various fields such as healthcare, cybersecurity, and autonomous vehicles.
The Roseville plant, which will be operational in 2024, is expected to create approximately 100 new jobs in Roseville and Sacramento area, according to the company’s plans.