On March 29, President Joe Biden visited Durham, North Carolina, to discuss his administration’s plans to invest in infrastructure, including a $50 billion investment in semiconductor manufacturing and research. One of the companies he visited during his trip was Wolfspeed, a Durham-based manufacturer of semiconductor products.
Wolfspeed is a subsidiary of the global semiconductor company Cree, Inc. The company specializes in silicon carbide-based semiconductors, which are used in a variety of applications, including electric vehicles, renewable energy systems, and 5G networks.
During his visit to Wolfspeed, Biden toured the company’s facilities and met with employees and executives to discuss the importance of investing in domestic semiconductor manufacturing. He also spoke about the need to secure the supply chain for critical semiconductor products, which have become increasingly important in today’s digital economy.
For Wolfspeed, Biden’s visit was a significant moment. The company has experienced rapid growth in recent years, driven by the increasing demand for its products in the automotive, telecommunications, and renewable energy sectors. The company has also expanded its manufacturing capabilities, investing in new facilities and equipment to increase its production capacity.
Wolfspeed’s CEO, Gregg Lowe, spoke about the company’s growth and the importance of Biden’s visit in a statement, saying, “Wolfspeed is at the forefront of the semiconductor industry, and we are thrilled to have the opportunity to showcase our technology and our team to President Biden. With his administration’s commitment to investing in infrastructure and semiconductor manufacturing, we see the sky as the limit for our company and for the industry as a whole.”
The semiconductor industry has become increasingly important in recent years, with semiconductors powering everything from smartphones to electric cars. However, the COVID-19 pandemic has exposed the vulnerabilities of global supply chains, particularly in the semiconductor industry. The Biden administration’s proposed investments in domestic semiconductor manufacturing and research aim to address these vulnerabilities and ensure that the United States remains a leader in this critical industry.
For Wolfspeed and other domestic semiconductor manufacturers, these investments represent a significant opportunity for growth and innovation. As the demand for semiconductor products continues to increase, companies like Wolfspeed are well-positioned to benefit from the Biden administration’s efforts to bolster domestic manufacturing and secure the supply chain.
Overall, Biden’s visit to Wolfspeed and other semiconductor manufacturers in Durham was a clear indication of the administration’s commitment to investing in critical infrastructure and supporting domestic manufacturing. As the semiconductor industry continues to evolve and expand, companies like Wolfspeed are poised to play a key role in shaping the future of this critical industry.