Hoosier State Today

U.S. Senator Todd Young (R-Ind.) expressed his support for the U.S. Department of Commerce's announcement that SK hynix will receive up to $458 million in direct funding under the CHIPS and Science Act. This funding is intended for the development of a high-bandwidth-memory advanced packaging fabrication and research facility in West Lafayette.

“Bringing semiconductor manufacturing back to the United States is a national security imperative and is among the primary goals of the CHIPS and Science Act,” said Senator Young. “Today’s announcement further opens the door for Hoosier workers to play a critical role in building our high-tech future while contributing to our national security and ensuring against future supply chain disruptions. This is an exciting day for SK hynix, Indiana, and our nation.”

In August, the Department of Commerce proposed direct funding of up to $450 million for SK hynix. This followed an earlier announcement by the South Korean chip producer of an estimated $3.8 billion investment aimed at creating over 1,000 new jobs in West Lafayette. The company plans to commence mass production in the latter half of 2028.

Besides direct funding, SK hynix will receive up to $500 million in loans through the CHIPS Program Office, facilitated by the CHIPS and Science Act. This decision follows a comprehensive application process supported by a letter from an Indiana delegation led by Senator Young.

For more details on the CHIPS and Science Act, visit young.senate.gov/chips.