Today, Governor Josh Shapiro announced the Commonwealth’s $1 million investment to support the growth of leading semiconductor solutions supplier Powerex, Inc. in Westmoreland County. The company will invest a minimum of $14 million to modernize and upgrade key assembly and testing capabilities at its facility in Youngwood, creating at least 25 new jobs and retaining an additional 215 existing jobs.
One of the last vertically-integrated power semiconductor facilities in the United States, Powerex will expand a module assembly facility, double its module assembly capacity, and grow its module reliability center as part of this project.
“Pennsylvania gets it done, and our strategic investments in companies like Powerex are helping to create jobs and economic opportunity as we continue working to make Pennsylvania the best state in the nation for businesses looking to thrive,” said Governor Josh Shapiro. “We’re focused on growing the Commonwealth’s vital industries, including technology and manufacturing, and have the innovation pipeline, skilled workers, and geographic proximity to major corridors and markets that companies need. My Administration will continue making meaningful investments to position Pennsylvania as an economic leader.”
Powerex received a funding offer from the Department of Community and Economic Development (DCED) for a grant of up to $1 million for eligible project costs.
“Since day one, Governor Shapiro and our Administration have been laser focused on sending a strong message that Pennsylvania is open for business,” said DCED Secretary Rick Siger. “Our investments in companies like Powerex create good jobs for our workers and boost key industries like technology and manufacturing that are part of our Economic Development Strategy. We’re doubling down on critical investments that support the strategy to provide our Commonwealth with the greatest opportunities to succeed.”
Powerex is a leading supplier of discrete devices, modules, and high-power semiconductor solutions for many markets, including military power electronics applications, aircraft, alternate energy, electric vehicles, medical power supplies, and more.
“We’re grateful for Governor Shapiro’s administration and all of our state and local partners for their support, which is enabling small companies like ours to invest in equipment and expand production,” said Joseph Wolf, CEO of Powerex. “With this funding, we’ll strengthen our production capabilities and create new jobs, offering growth and advancement opportunities for our employees. This investment empowers us to meet increasing demand with Pennsylvania-made products, building a stronger future for our team and community.”
Powerex is also receiving up to $3 million in federal funding from the U.S. Department of Commerce under the CHIPS and Science Act to support its growth in Pennsylvania.
“Public-private partnerships are critical to growing the Pittsburgh region. Together, we have been and will continue to identify opportunities to leverage local, state, and federal relationships to support existing companies and attract strategic investments within our region’s key sectors — advanced manufacturing, energy, life sciences, and robotics and AI,” said Stefani Pashman, CEO, Allegheny Conference. “Investments in companies like Powerex showcase how southwestern Pennsylvania is positioned to capture investments and ensure winning outcomes for investors across the region and beyond.”
“This is great news for Powerex, with companies across the county, state, and nation looking to source domestically built components,” said Sean Kertes, Chairman of the Westmoreland County Commissioners. “Manufacturing is in our DNA here in Westmoreland County. So, of course, we’re thrilled that Powerex is expanding and reshoring jobs as it builds a new semiconductor fabrication line.”
The manufacturing and technology industries are a prime focus in Governor Shapiro’s Economic Development Strategy, the first plan of its kind in almost 20 years. Governor Shapiro and Secretary Siger unveiled the economic development strategy earlier this year to serve as the blueprint for capitalizing the Commonwealth’s strengths and further spur our economy.
Since taking office, the Shapiro Administration has secured and announced over $3 billion in private sector investments.
The 2024-25 bipartisan budget delivers on Governor Shapiro’s key priorities to make Pennsylvania more competitive economically, and includes:
- $500 million for site development, including $400 million for the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) program
- $20 million for the Main Street Matters program to support small businesses and commercial corridors that are the backbone of communities across our Commonwealth
- $15 million for tourism marketing to boost our economy, attract more visitors, and support good-paying jobs — building on the Governor’s launch of The Great American Getaway brand to encourage tens of millions within a few hours’ drive to visit Pennsylvania
Read more about Pennsylvania’s first Economic Development Strategy the first plan of its kind in 20 years and how Governor Shapiro’s budget creates economic opportunity for all Pennsylvanians.
