US, Canada plan North American chip corridor, starting with IBM expansion
Business
US, Canada plan North American chip corridor, US President Joe Biden indicated in presser.
OTTAWA (Web Desk) - The United States and Canada said on Friday they would work together to create a bilateral semiconductor manufacturing corridor, as International Business Machines (IBM) signaled its intent to expand in Canada.
The news came as U.S. President Joe Biden, who is visiting Canada, issued a joint pledge with Canadian Prime Minister Justin Trudeau, to stand together against authoritarian regimes in part by reducing their dependence on other countries for critical minerals and semiconductors.
The Canadian government will spend 250 million Canadian dollars ($181.94 million) on its domestic semiconductor industry to boost research and development and manufacturing, Trudeau's office said in a statement.
In the joint statement, the two leaders said IBM would provide "a significant investment to develop new and expanded packaging and testing capabilities at its Bromont facility (in Quebec) as part of a Memorandum of Understanding". However, the countries did not disclose the amount of IBM's investment in Canada.
IBM maintains semiconductor research and manufacturing operations in upstate New York. Last year, the company said it plans to invest $20 billion in New York's Hudson Valley region, once a manufacturing powerhouse, over the next decade to make and develop semiconductors, mainframe technology, artificial intelligence and quantum computing.
