Absolics, feds agree to PMT providing $75 million in federal funding

A proposed semiconductor plant in Covington is set to receive $75 million in federal funding.

On Thursday, May 23, the Biden-Harris administration announced that Absolics Inc., an affiliate of the South Korea-based SKC, and the U.S. Department of Commerce have agreed to a non-binding preliminary memorandum of terms (PMT) that will provide up to $75 million in federal funding.

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