One of California’s largest semiconductor projects will create up to $1.2 billion in annual economic impact for the capital region
Sacramento, California, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Solidigm, a U.S.-based subsidiary of global semiconductor company SK hynix, Inc., along with the City of Rancho Cordova and the Greater Sacramento Economic Council (GSEC), announced the largest high-wage jobs project in Greater Sacramento’s history.
After an exhaustive site search in the Greater Sacramento region, Solidigm chose the City of Rancho Cordova to build its global research and development (R&D) campus, which will be home to more than 1,900 professionals in highly paid technology jobs over the next five years with more than $100 million investment in the facility. This is the largest semiconductor industry R&D project Greater Sacramento has seen over the last decade.
Solidigm is a leading global provider of innovative NAND flash memory solutions. The company launched as a U.S.-based subsidiary of SK hynix, Inc., the world’s second-largest memory chip maker, on December 29, 2021, following an October 2020 agreement by SK hynix to acquire Intel's NAND and SSD business for $9 billion.
Solidigm is currently working on tenant improvements to the 230,000-square-foot R&D campus and is targeting a move-in date in the first quarter of 2023. The site was chosen for its ample office and lab space, proximity to where Solidigm’s workforce lives, availability of public transportation, nearby amenities and the ability to expand to accommodate a growing workforce.
“Solidigm is pleased to bring innovation and jobs to Rancho Cordova and the Greater Sacramento area, known for its highly skilled workforce and spirit of inventiveness,” said Solidigm CEO Rob Crooke. “We look forward to investing in and supporting the area’s economic growth and community through jobs, partnerships, and volunteerism.”
“As a global leader in data memory storage, Solidigm brings its research and development to Rancho Cordova at a critical time for our national supply chain and at a moment when we need more U.S. investment in the essential technologies of the future,” said Congressman Ami Bera. “And regionally, the benefits of this—the largest high-wage jobs economic development project our region has ever seen—brings considerable investment and opportunities that will benefit the Greater Sacramento region and its residents.”
“We are thrilled to welcome Solidigm to the City of Rancho Cordova,” said Mayor Donald Terry. “Our city, one of the largest jobs centers in the Greater Sacramento region, is home to over 3,500 diverse businesses. We’re proud to further diversify and add data memory storage to the exceptional list of entrepreneurial efforts that are established here.”
“This investment was a significant team effort and showed collaboration within the Greater Sacramento economic development community, proving global market validation in the semiconductor industry,” said GSEC President and CEO Barry Broome. “I’m proud of the GSEC and Rancho Cordova teams who worked with our community partners to make this project a success for the state capital of California and put us on a global stage for future semiconductor economic development projects.”
A critical site selection factor for this project was the timely availability of low-cost, high-uptime power. As a core member of the project team, the Sacramento Municipal Utility District (SMUD) has ensured that timelines for the project were met with high reliability and competitive cost.
Solidigm is a leading global provider of innovative NAND flash memory solutions. Solidigm technology unlocks data’s unlimited potential for customers, enabling them to fuel human advancement. Our origins reflect Intel’s longstanding innovation in memory products and SK hynix’s international leadership and scale in the semiconductor industry. Solidigm became a standalone U.S. subsidiary under SK hynix in December 2021. Headquartered in California, Solidigm is powered by the inventiveness of more than 2,000 employees in 20 locations around the world. For more information, please visit solidigm.com and follow us on Twitter at @Solidigm and on LinkedIn. “Solidigm” is a trademark of SK hynix NAND Product Solutions Corp (d/b/a Solidigm).
About the Greater Sacramento Economic Council
The Greater Sacramento Economic Council is the catalyst for innovative growth strategies in the Capital Region of California. The organization spearheads community-led direction to retain, attract, grow and scale tradable sectors, develop advanced industries and create jobs and investment throughout a six-county region. Greater Sacramento represents a collaboration between local and state governments, market leaders, influencers and stakeholders, with the sole mission of driving inclusive economic growth. The Greater Sacramento region was founded on discovery, built on leadership and fueled by innovation.
About Rancho Cordova
The City of Rancho Cordova incorporated on July 1, 2003, becoming the 478th city in California. Since that time, the city has grown into an emerging urban center, while retaining a small-town feel. Over 3,500 businesses employ a workforce of 65,000+, making us one of the largest employment centers in the Greater Sacramento region. Our nearly 80,000 residents enjoy a beautiful, six-mile stretch of the American River, a burgeoning arts scene, 26 miles of bike and pedestrian trails, 70 acres of creeks and tributaries, and over 100 (mostly free) events. Whether you call Rancho Cordova an All-America City, Playful City USA or Tree City USA, our neighborhoods and business districts reflect diversity and opportunity, making us a community where anyone can live, work, learn and play.
CONTACT: Michelle Willard Greater Sacramento Economic Council 916-287-9072 firstname.lastname@example.org