President Biden's visit to North Carolina is part of a tour meant to highlight manufacturing growth in the country and bills like the Chips and Science Act.
President Biden delivers remarks at Wolfspeed in Durham, North Carolina, on March 28, 2023. Photo: Jim Watson/AFP via Getty Imagesyesterday to tour Wolfspeed, an N.C. State-born semiconductor firm expanding its operations in North Carolina amid surging demand for its chips from electric vehicle makers.
Neill Reynolds, the company's chief financial officer, said the CHIPS Act is an important part of the company's growth. Already, state and local governments will provide about $775 million in incentives if Wolfspeed meets hiring and investment goals.Biden remarked he originally visited the company in 2010 to see its light bulbs.
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