South Raleigh News

IQE, Inc., a global semiconductor manufacturer, has announced plans to expand its operations in Guilford County, North Carolina. The expansion is contingent on customer commitments and funding from the federal CHIPS Act. The company intends to create 109 jobs and invest $305 million over several years in Greensboro.

Governor Cooper commented on the development, stating, “North Carolina is a manufacturing powerhouse at the intersection of innovation and legacy.” He emphasized that IQE's reinvestment highlights the state's workforce quality and business climate.

The company has operated in Greensboro for over ten years with 72 employees. It produces epi wafers using molecular beam epitaxy for defense and aerospace industries. The planned investment will introduce metal-organic chemical vapor deposition (MOCVD) technology for semiconductor chip production, targeting the electric vehicle market.

Interim CEO Jutta Meier expressed optimism about continuing their partnership with Greensboro as they seek government funding through the CHIPS Act. “Greensboro has proven to be a strategic location for IQE and has provided access to exceptional talent,” she said.

N.C. Commerce Secretary Machelle Baker Sanders noted North Carolina's robust semiconductor export industry valued at $1.2 billion annually. She stated that this expansion reinforces the state’s reputation for attracting advanced manufacturers like IQE.

The new positions will offer an average annual wage of $64,908, surpassing Guilford County's average wage of $58,843. This could result in an annual payroll impact exceeding $7 million for the area.

To support IQE’s expansion, a performance-based grant of $275,000 from the One North Carolina Fund will be provided. This fund assists local governments in attracting economic investments and creating jobs without upfront payments to companies; they must meet specific job creation and capital investment criteria first.

N.C. Senator Michael Garrett praised the announcement: “This announcement is outstanding news for Guilford County and the entire state.”

Numerous partners collaborated on this project including state departments, local colleges, workforce solutions organizations, local government entities, economic development alliances, chambers of commerce, and Duke Energy.