iDEAL Semiconductor Devices Inc. expands; creates jobs

iDEAL Semiconductor Devices Inc., a fables semiconductor company in Lehigh Valley is expanding its technology research and development and creating at least 63 jobs. 

The company received a funding proposal from DCED for a $1.4 million Pennsylvania Industrial Development Authority (PIDA) loan, a $338,000 Pennsylvania First grant and is encouraged to apply for the department’s Manufacturing Tax Credit and Research and Development Tax Credit programs. iDEAL Semiconductor has committed to investing $3.4 million into the project, creating 63 new jobs, and retaining its existing statewide jobs over the next three years.  

As part of the expansion, the company plans to increase its footprint at Ben Franklin Technology Partners of Northeast Pennsylvania by 15,000 square feet.  

Neil Weaver, acting secretary of the Department of Community and Economic Development (DCED), joined company and local officials for a tour of the company’s labs at Ben Franklin TechVentures, 116 Research Drive, Bethlehem, today. 

“iDEAL Semiconductor’s growth is wonderful for both the company and the commonwealth,” said Weaver. “Companies like iDEAL Semiconductor benefit from Pennsylvania’s strong workforce and ideal northeast location, while Pennsylvanians benefit from the good paying and stable jobs these companies provide. I look forward to seeing iDEAL Semiconductor’s continued growth.” 

iDEAL Semiconductor is taking its technology to full production this year and requires additional space to accommodate its engineering and research and development personnel. 

“Decades ago, Pennsylvania was home to the world’s first semiconductor production line; the expansion of iDEAL Semiconductor plays an important role in showcasing the scientific and technological innovation possibilities for the state and country,” said Mark Granahan, co-founder and CEO of iDEAL Semiconductor. “We look forward to working with the state to aggressively pursue CHIPS and Science Act funding as investment into companies such as iDEAL Semiconductor will ensure that the U.S. remains competitive in a sector it conceived long ago.” 

Don Cunningham, president and CEO of the Lehigh Valley Economic Development Corp. Said he is pleased to see the growth of iDEAL. “Our region is home to a growing science and technology sector that is a central part of a diverse Lehigh Valley economy anchored by our more than 700 manufacturers developing everything from high-tech medical instruments to at-home COVID-tests to sophisticated semiconductors.”