06:05 AM EDT, 06/26/2024 (MT Newswires) -- Entegris ( ENTG ) said Wednesday it signed a non-binding Preliminary Memorandum of Terms with the US Department of Commerce to receive up to $75 million in direct funding under the CHIPS and Science Act to develop a semiconductor components facility in Colorado Springs.

Upon completion, the facility will bolster capabilities for the production of Front-Opening-Unified Pods which transport and protect silicon wafers during the semiconductor manufacturing process, along with advanced liquid filtration and purification products.

The company said the facility is expected to generate about 600 new jobs in Colorado Springs over the next several years, and another 500 construction jobs by 2030.