By: Shannon Davis
Today, the U.S. Department of Commerce signed a non-binding preliminary memorandum of terms (PMT) with MACOM Technology Solutions Inc. to provide up to $70 million in proposed direct funding under the CHIPS and Science Act. The proposed CHIPS funding would support the expansion and modernization of MACOM's facilities in Lowell, Massachusetts, and Durham, North Carolina, and would create up to 350 manufacturing jobs and nearly 60 construction jobs across both states.