Nashua company gets $35M in federal funding

A New Hampshire defense company will be the first to receive funding from the CHIPS and Science Act, according to the U.S. Department of Commerce, which administers the CHIPS for America Program.

The Biden-Harris Administration announced Monday BAE Systems will receive $35 million to modernize its Microelectronics Center in Nashua. Upgrading the facility will quadruple the production of computer chips for military aircraft, including F-15 fighter jets.

This marks the first allocation of the $52-billion CHIPS Act. In a statement released Monday President Joe Biden called this “a key milestone” for the law which he signed on Aug. 9, 2022. “Over the coming year,” he said,” the Department of Commerce will award billions more to make more semiconductors in America, invest in research and development capabilities to keep America at the forefront of new technologies, strengthen our national security, and create good-paying jobs.”

The department has received more than 550 statements of interest and nearly 150 applications and concept plans for CHIPS funding.

“Thanks to President Biden’s Investing in America agenda, we have reached preliminary terms to make a substantial investment in New Hampshire’s expanding defense industrial base, which will help make our country and supply chains more secure and bolster the economy of the Granite State,” said Secretary of Commerce Gina Raimondo.