June 26 (Reuters) - Chip manufacturer Entegris ( ENTG )

said on Wednesday that it has signed a binding preliminary

memorandum of terms with the Biden administration for funding of

up to $75 million that would aid the development of a new

facility in Colorado Springs, Colorado.

The proposed investment would create over 1,100 direct jobs

in Colorado Springs, the U.S. Department of Commerce said in a

separate statement.