Opinion
Corporate subsidies and taxpayer risk
The JDIG and OneNC grant funds promised to create 204,000 jobs when they were created in 1993 and 2002. But they have only delivered on 95,000 as of 2024.
News
Wolfspeed gets nearly $700M tax refund after bankruptcy
Wolfspeed, a Durham-based semiconductor supplier, announced earlier this week that it has received $698.6 million in cash tax refunds from the Advanced Manufacturing Investment Credit (AMIC) under Section 48D of the Internal Revenue Code from the Internal Revenue Service (IRS) under a provision in the 2022 CHIPS Act.
News
Durham rare-earth start-up receives $1.4B federal investment
The investments will fund the construction, commission, and operation of a 10,000 metric ton magnet facility.
Opinion
Leadership on $2.75 trillion digital economy at stake in NC’s Senate race
States that lead in digital technologies will set the pace for American economic competitiveness. NC is positioned to be one of those states. We can choose Senate representation that matches the moment.
News
Update: Bankruptcy imminent for Wolfspeed
Semiconductor supplier Wolfspeed is one step closer to filing for bankruptcy. Bloomberg News and Reuters reported Wednesday that creditors will soon take over the Durham-based company.
News
Wolfspeed layoffs at its Siler City materials factory
Weeks after an announcement that it is preparing to file for Chapter 11 bankruptcy, Durham-based Wolfspeed is laying off 73 workers from its new materials factory in Siler City.
News
Durham-based Wolfspeed to file for bankruptcy within weeks
Wolfspeed, the semiconductor supplier headquartered in Durham, faces uncertainty as it prepares to file for Chapter 11 bankruptcy in the coming weeks.
News
Semiconductor manufacturer expanding in Greensboro
Federal funding will help to fund the expansion of Greensboro manufacturing facility.
News
Wolfspeed gets federal funding for EV chips
Biden administration signs initial agreement for $750 million in funding to support manufacturing plant for EV chips.
News
NC Dept of Commerce launches new initiatives, web pages to fund federal ‘Tech Hubs’
The North Carolina Department of Commerce announced Tuesday the launch of two new initiatives and web pages that will help companies in the state potentially receive federal designation as Regional Technology and Innovation Hubs (Tech Hub) and for other federal investments enacted as part of the CHIPS and Science Act of 2022.
Opinion
Government’s bad track record when placing bets with your tax dollars
This week, President Biden chose to kick off his Invest in America tour in Durham, North Carolina, stopping at Wolfspeed, a semiconductor facility that will focus on the electric vehicle market. Wolfspeed will receive around $1 billion in state and local grants, as well as direct appropriation funds from the General Assembly. It also announced...
News
Before CHIPS vote, Kathy Manning made six-figure investment in chip companies
U.S. Rep. Kathy Manning, a Democrat representing the Triad area of North Carolina, is once again in the news for her stock trading, after making investments in chip companies the day before the July 28 U.S. House vote on the CHIPS Act.
