The City of Palm Bay is thrilled to congratulate Rogue Valley Microdevices (RVM) on signing a non-binding preliminary memorandum of terms for up to $6.7 million in proposed direct funding under the CHIPS and Science Act. This announcement follows the U.S. Department of Commerce's recent release and comes as RVM prepares to participate in SEMICON West this week.
Rogue Valley Microdevices is the first microelectromechanical systems (MEMS) manufacturing company to secure proposed funding under the CHIPS Act. This milestone also marks the first proposed CHIPS investment in a woman-owned and minority-owned business.
“As the first MEMS foundry to secure proposed CHIPS and Science Act funding, Rogue Valley Microdevices is deeply committed to the onshore manufacturing of advanced microelectronics. We plan to use this capital infusion to increase production of the miniature, intelligent sensors that are critical to markets for which a robust supply chain is essential, including automotive, biomedical, and industrial. We’ll also ramp expansion from our west coast foundry in Oregon to our new location on the Space Coast of Florida, which will soon become the industry’s first MEMS pure-play foundry to offer 300mm capability,” said Rogue Valley Microdevices Founder and CEO Jessica Gomez.
The proposed CHIPS investment would support the construction of RVM’s pureplay microelectromechanical systems and sensor foundry facility in Palm Bay, an operational expansion with the potential to triple RVM’s manufacturing capacity while creating 75 new high-tech jobs in Florida.
Mayor Rob Medina expressed his enthusiasm, saying, “We are incredibly proud of Rogue Valley Microdevices for securing this funding to aid in the Palm Bay expansion project. Their commitment to innovation, job creation, and community support aligns perfectly with our City's vision for growth and development. We look forward to seeing the positive impact their new facility will bring to our community and the broader industry.”
Congratulations to Rogue Valley Microdevices on this significant milestone and their continued success!
