Manufacturing
Semi-Conductor Market Going Strong
$1.9B SK hynix plant is one of many advanced chip facilities being built across the US
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Piling for SK hynix Inc.'s High-Bandwidth Memory (HBM) Advanced Packaging and R&D Hub in West Lafayette, Ind., began in April and is ongoing. The project is one of many bringing advanced semiconductor chip manufacturing to the U.S.
Icheon, South Korea-based SK hynix says it is investing about $3.8 billion in the facility, which would be its first manufacturing site outside of Asia. The $1.9-billion project was the second-largest nonresidential project in the U.S. to break ground in April, according to Dodge Construction Network.
Work is being performed in-house. Contractor Hi-Tech Engineering Partners is leading work on the project, according to a spokesperson for the owner. Records show the firm is a subsidiary of SK Inc., an affiliate of the project owner.
The 133.5-acre site where the plant is being built is located in Purdue Research Park. SK hynix announced its selection of the site in April 2024 in conjunction with Purdue University. Later that year, the U.S. Dept. of Commerce offered $458 million in direct funding and $500 million in loans to support the project from the $53-billion fund created by Congress in the 2022 CHIPS and Science Act.
20.9
The percentage rise in manufacturing
construction starts in 12 months ending in April
Source: Dodge Construction Network
SK hynix joins a growing list of manufacturers in the area, which Chad Pittman, president and CEO of the Purdue Research Foundation, attributes to a matter of trust.
"These companies are making multi-decade decisions, and they need to know the people, the state and the university will be reliable partners over the long haul," he said. "We understood very quickly that global companies aren't just looking for incentives, they're looking for ecosystems."
