CREDC Secures $300K from state for support of semiconductor manufacturing
The Columbia River Economic Development Council (CREDC) has announced the award of $300,000 from the state’s Economic Development Strategic Reserve Fund (SRF) to Analog Devices, Inc. (ADI) to support employee training and upskilling in Clark County, WA.
ADI is a global semiconductor leader that combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, and reliably connect humans and the world. ADI is also a major employer in Clark County, contributing to the region’s durable economy.
The SRF is an integral component supporting ADI’s pursuit of CHIPS Act funding, which requires investment from the state to access federal dollars. Both SRF funding and CHIPS Act funding represent a significant opportunity for ADI and investment in the semiconductor industry in the region.
“CREDC is proud to play an essential role in bringing reinvestment in chips and microelectronic fabrication facilities to our region. Our work educating state and national-level policy makers on the global chips industry continues to shape local opportunity as evidenced by today’s announcement of our partnership with ADI and Commerce,” said Jen Baker, President and CEO of CREDC.
“The grant is about more than the funding – it is emblematic of our commitment to growing the semiconductor industry and good jobs that come with it here in Washington state,” said Commerce Director Mike Fong.
“At ADI, we believe in investing in people to help build the solutions of the future. The award of the SRF from the Governor’s Office and Commerce will help expand our reach in the region,” said Rebecca Diaz, Vice President of Finance and Treasurer at ADI.
The investment enables ADI to upskill its growing workforce, allowing employees to gain skills in operating modernized manufacturing tools, inputs, and processes and provide for more sustainable growth using more energy-efficient practices.
“We are proud to be part of a project that not only boosts our local economy but also advances the global semiconductor industry,” shared Clinten Hendricks, Vice President of Business Development at CREDC.
The SRF award is a testament to the strong collaboration between CREDC, ADI, and the State Department of Commerce, reflecting the strategic importance of the semiconductor and microelectronics industry in Washington. CREDC led ADI in meeting the rigorous requirements of the SRF process throughout a months-long process.
CREDC looks forward to the continued success of ADI’s expansion and the positive impact it has on the region’s economic landscape.
About CREDC
As Washington State’s recognized Associate Development Organization for Clark County, CREDC unites 150 private and public sector partners dedicated to advancing regional economic vitality through business growth and innovation. www.credc.org
