The boss of chip manufacturer Pragmatic Semiconductor has called on the Government to provide substantial investment into the sector and help drive domestic demand.
CEO Scott White said the UK should not miss out on what he called a highly profitable, value-creating sector, asking the Government to back semiconductor manufacturing in the face of attractive incentives offered by the US and EU.
Last year Pragmatic closed a $125m Series C funding round to to fuel its expansion plans which include the current development of a 175,000 sqft factory in County Durham, and around 100 fabrication lines around the world over the next decade. The firm's plans aim to bring 125 highly skilled jobs to the North East, with hopes for more in addition if it can cultivate a supply chain hub around the Meadowfield site.
