Rogue Valley Microdevices Secures $6M CHIPS Award, Boosting Palm Bay's Tech Sector
Rogue Valley Microdevices Secures $6M CHIPS Award, Boosting Palm Bay's Tech Sector
Local MEMS Foundry Expansion Brings Jobs and Innovation 🏭💼
PALM BAY, FL — In a significant development for our city's growing tech industry, Rogue Valley Microdevices (RVM) has been awarded a $6 million CHIPS proposed award. This funding will support the construction of their new MEMS and sensor foundry right here in Palm Bay, a project we've been following closely at The Palm Bayer.
As many of our readers may recall from our earlier coverage, RVM's expansion to Palm Bay has been eagerly anticipated. This latest news about the CHIPS award underscores the national importance of their work and the potential impact on our local economy.
What the CHIPS Award Means for Palm Bay
The $6 million award is part of the broader CHIPS and Science Act, a federal initiative aimed at boosting domestic semiconductor manufacturing. For Palm Bay, this translates to:
Job Creation: RVM's expansion is set to create 75 high-tech jobs over the next five years, with an average salary of $65,267.
Economic Investment: The company plans to invest $25 million in total, with $21.4 million going towards state-of-the-art cleanroom equipment.
Industry Diversification: This project helps establish Palm Bay as a hub for semiconductor and high-tech manufacturing.
What's Next for RVM in Palm Bay
RVM has already purchased a 50,000-square-foot commercial building at 2301 Commerce Drive. The space will be reconfigured for a cleanroom and office space, with initial production of MEMS devices slated for 2025.
Interestingly, RVM's new facility will feature 300mm wafer capability, positioning Palm Bay at the forefront of MEMS manufacturing technology. This capability will enable the production of larger substrates, potentially opening up new market opportunities for the company and our region.
The Bigger Picture
The CHIPS award to RVM is part of a national strategy to strengthen the U.S. semiconductor industry. As we've reported before [link to previous article on semiconductor industry], this sector is crucial for everything from smartphones to national defense systems.
For Palm Bay, this means we're not just creating jobs – we're playing a role in enhancing national security and technological innovation.
Stay tuned to The Palm Bayer for more updates on this exciting development in our city's tech landscape. We'll continue to bring you the latest on RVM's progress and its impact on our community.
For more information on Rogue Valley Microdevices and their latest developments, visit their News & Knowledge page.