Polar Semiconductor announces expansion of Bloomington facility – KSTP

On Monday, Governor Tim Walz and other state leaders announced a $525 million expansion in semiconductor manufacturing in Minnesota.
The expansion at Polar Semiconductor in Bloomington will be funded by $75 million of state investments, as well as $120 million from the Biden administration’s Chips and Science Act.
According to Walz’s office, Polar produces high-voltage semiconductors for auto, commercial and industrial uses at the Bloomington facility, which currently has more than 500 employees.
With the expansion, the company is expected to double its monthly output and add another 160 jobs, officials say.
In addition to Walz, Sens. Amy Klobuchar and Tina Smith, along with Bloomington Mayor Tim Busse and Arati Prabhakar, the director of the White House’s Office of Science and Technology Policy, were among those who attended Monday’s announcement.
“We are very pleased to announce this historic investment in Minnesota semiconductor manufacturing. Our expanded manufacturing facility will allow us to increase capacity and branch into innovative technologies to serve new customers and markets,” said Surya Iyer, the president and COO of Polar Semiconductor, in a prepared statement early Monday. “Polar and its employees are grateful to the U.S. Department of Commerce and the State of Minnesota for their commitment to the future of American semiconductor manufacturing and appreciate the strong collaboration with the CHIPS Program Office, DEED, and the City of Bloomington, Minnesota, throughout the process. Polar is also pleased to welcome a significant equity investment from Niobrara Capital and Prysm Capital, which will allow the Company to become U.S.-owned, and for the continued support of our long-term partners, Sanken Electric and Allegro MicroSystems.”
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