US chipmaker to invest $2 billion in Czechia

US chip manufacturer Onsemi is planning to invest up to $2 billion in its Czech production facility after negotiations with the government resulted in the largest foreign investment in the country’s history.

The company’s chip production in the town of Rožnov pod Radhoštem, near the border with Slovakia, is expected to increase dramatically, contributing more than €240 million annually to the country’s GDP.

“It is not the acquisition of an assembly plant, it is the acquisition of a centre of modern technologies, production with high added value,” said Czech Prime Minister Petr Fiala (ODS), adding that it is for a sector that the Czech Republic needs to develop.

https://www.euractiv.com/section/politics/news/us-chipmaker-to-invest-2-billion-in-czechia/