FOR IMMEDIATE RELEASE — JANUARY 16, 2025
Vancouver, WA — The U.S. Department of Commerce announced up to $105 million in proposed direct funding to Analog Devices, Inc. (ADI) as part of the CHIPS and Science Act. This milestone is directly tied to the $300,000 awarded to ADI from Washington State’s Economic Development Strategic Reserve Fund (SRF), which was critical in securing a piece of this federal funding for ADI’s Camas location.
ADI, a global semiconductor leader, combines analog, digital, and software technologies into cutting-edge solutions that advance digitized factories, mobility, and digital healthcare. With a significant presence in Clark County, WA, ADI’s operations bolster the regional economy and support a robust semiconductor ecosystem.
The SRF’s investment in ADI, designed to support employee training and upskilling in Clark County, was an essential prerequisite for the CHIPS Act funding. CREDC played a pivotal role in guiding ADI through the rigorous SRF application process, ensuring the project met the state’s requirements for strategic economic development.
“CREDC is proud to play an essential role in bringing reinvestment in chips and microelectronic fabrication facilities to our region,” said Jen Baker, President and CEO of CREDC. “Our efforts to educate state and national policymakers on the importance of the global semiconductor industry continue to yield tangible benefits for Clark County, as evidenced by today’s announcement.”
“ADI is so grateful for your support of the Washington Strategic Reserve Fund that helped us secure this milestone!” said John Michael, General Manager, Global Operations and Technology at ADI in Camas. “We couldn’t have achieved this outcome without you.”
“ADI’s bi-state footprint highlights the regional strength of the semiconductor sector, underpinned by a talented workforce that celebrates living in the Pacific Northwest,” added Monique Claiborne, President & CEO of Greater Portland Inc.
“This announcement underscores Washington’s strategic focus on fostering high-growth industries like semiconductors,” said Dr. Joseph Williams, ICT Sector Lead for the Washington State Department of Commerce. “State investment through the SRF demonstrates the importance of collaboration between local, state, and federal partners to drive meaningful economic development.”
“We are thrilled to see ADI’s success with the CHIPS Act funding, which builds on the foundational support of the SRF,” said Clint Hendricks, Vice President of Business Development at CREDC. “These investments affirm the strategic importance of the semiconductor and microelectronics industries to our region and state.”
This combination of state and federal funding marks a significant step forward for the semiconductor industry in Southwest Washington and demonstrates the value of strategic public-private partnerships. CREDC looks forward to ADI’s continued success and its ongoing contributions to the regional economy.
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About CREDC
As Washington State’s recognized Associate Development Organization for Clark County, CREDC unites 150 private and public sector partners dedicated to advancing regional economic vitality through business growth and innovation. www.credc.org
About Commerce
Commerce works with local governments, businesses, community-based organizations and tribes to strengthen communities. The department’s diverse portfolio of more than 100 programs and effective public and private partnerships promote sustainable community and economic development to help all Washingtonians thrive. For more information, visit www.commerce.wa.gov.
MEDIA CONTACT: Eliyah Eells
Sr. Communications Manager
(360) 567-3181 eliyah@credc.org