A major South Korean computer chipmaker said Wednesday it plans to spend more than $3.87 billion in Indiana to build a semiconductor packaging plant and research and development center.
SK Hynix expects the campus to create as many as 800 high-wage jobs in engineering, technical support, administration and maintenance by the end of 2030.
The investment will move Indiana to the forefront of artificial intelligence in America, said Purdue University President Mung Chiang said. The new plant will be built at the Purdue Research Park, an economic development incubator at the university.
The company said the plant will produce high-bandwidth memory chips that will help meet U.S. Demand for semiconductors, develop future generations of chips and house an advanced packaging research and development line at the 430,000-square-foot plant (nearly 40,000-square-meter) around 100 miles (160 kilometers) southeast of Chicago.
“We believe this project will lay the foundation for a new Silicon Heartland, a semiconductor ecosystem centered in the Midwest,” company CEO Kwak Noh-Jung said in a news release.
Gov. Eric Holcomb said the project “not only reaffirms the state’s role in the hard tech sector, but is also another tremendous step forward in advancing U.S. Innovation and national security.”
The Indiana Economic Development Corp. Offered the company of up to $3 million in incentive-based training grants, up to $3 million in manufacturing readiness grants, up to $80 million in performance payments, up to $554.7 million in tax rebates and other incentives. The cities of West Lafayette and Lafayette, Tippecanoe County and Duke Energy offered additional Incentives.