US government gives $406 million in subsidies to Taiwan's GlobalWafers

The U.S. Department of Commerce announced on Tuesday that it has issued $406 million in government subsidies to Taiwan's GlobalWafers to increase silicon wafer production in the United States. The funds will be used for projects in Texas and Missouri to achieve the first large-scale production of advanced 300mm wafers in the United States and expand the production of silicon-on-insulator wafers. GlobalWafers plans to invest nearly $4 billion in two states to build new wafer manufacturing facilities, which are expected to create 1,700 construction jobs and 880 manufacturing jobs.