A major South Korean computer chipmaker, SK Hynix, has announced plans to invest over $3.87 billion in Indiana to establish a semiconductor packaging plant and research and development center. This significant investment is expected to create up to 800 high-wage jobs in engineering, technical support, administration, and maintenance by the end of 2030.
The new campus, to be located at the Purdue Research Park in West Lafayette, will propel Indiana to the forefront of artificial intelligence in the United States, according to Purdue University President Mung Chiang. The 430,000-square-foot facility will focus on producing high-bandwidth memory chips to meet the growing U.S. demand for semiconductors, drive innovation in chip technology, and host an advanced packaging research and development line.
SK Hynix's CEO, Kwak Noh-Jung, expressed optimism that the project will establish a new semiconductor ecosystem in the Midwest, dubbing it the 'Silicon Heartland.' Indiana Governor Eric Holcomb hailed the initiative as a significant step in advancing U.S. innovation and national security, reinforcing the state's position in the hard tech sector.
To support the project, the Indiana Economic Development Corp. has offered SK Hynix up to $3 million in incentive-based training grants, $3 million in manufacturing readiness grants, up to $80 million in performance payments, $554.7 million in tax rebates, and other incentives. Additionally, the cities of West Lafayette and Lafayette, Tippecanoe County, and Duke Energy have extended further incentives to facilitate the establishment of the semiconductor plant.
