ALBUQUERQUE, N.M. (KRQE) – An Albuquerque-based company will get nearly $24 million from the feds to expand its semiconductor manufacturing.
SolAero by Rocket Lab has finalized its agreement with the US Department of Commerce to receive the funds through the Chips and Science Act, which went into effect in 2022.
When preliminary terms were reached earlier this year, the company said it would use the money to refurbish its New Mexico labs.
The funding is expected to create 100 new jobs.