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The source text indicates this attachment appears to be a draft document.
The memorandum outlines a recommendation to approve a Grant Agreement with Infinera Corporation for $100,000 to support the expansion of its semiconductor manufacturing facility in San José. The grant aims to enhance economic development and job creation, leveraging federal funding from the CHIPS and Science Act. The project is expected to create a total of 775 jobs, including new full-time positions and temporary construction jobs, with significant investments planned in San José.
Key points
Grant Agreement with Infinera Corporation for $100,000.
Supports modernization and expansion of semiconductor manufacturing in San José.
Expected to create 775 jobs, including 125 to 175 new full-time jobs and 600 temporary jobs.
Funding aligns with the federal CHIPS and Science Act to boost semiconductor production.
Infinera's new facility is scheduled for completion in 2027.
Limitations
The document includes placeholders and unresolved sections, such as specific dates and budget references.
The text appears to be a draft as it contains indications of pending approvals.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 12,676 chars
COUNCIL AGENDA: FILE: ITEM: TO: HONORABLE MAYOR AND CITY COUNCIL SUBJECT: Grant Agreement with Infinera Corporation for the Expansion of Manufacturing Facility Approved 4/14/26 26-395 2.12 FROM: Jen Baker DATE: March 23, 2026 Date: 4/1/26 COUNCIL DISTRICT: 10 RECOMMENDATION Approve a Grant Agreement with Infinera Corporation in the amount of $100,000 to support the modernization and expansion of Infinera Corporation’s semiconductor manufacturing facility in San José. SUMMARY AND OUTCOME This Grant Agreement with Infinera Corporation (Infinera) will advance the City’s economic development and job creation goals through the expansion of semiconductor manufacturing in San José, providing leverage for broader federal CHIPS and Science Act of 2022 funding. Funding for the grant was approved by the City Council in Fiscal Year 2023-2024 to support the construction of a modern semiconductor fabrication foundry in San José. The new facility will host a total of 775 jobs, including 350 existing jobs, 125 to 175 new full-time jobs, and 300 jobs relocated to San José by 2027. Construction of the new semiconductor foundry will also result in 600 temporary jobs in San José. BACKGROUND The...
Official source link unavailable.
The file was imported, but the current source metadata does not include a public document URL.
Generated summaryAI-assisted
The source text indicates this attachment appears to be a draft document.
This document is a draft of the City of San José CHIPS Assistance Agreement for Building/Expanding Semiconductor Production in San José between the City of San José and Infinera Corporation. The agreement outlines the financial assistance provided by the City to support Infinera's construction of a semiconductor fabrication facility, which is expected to create jobs and enhance semiconductor production in the U.S. The City will disburse $100,000 to Infinera, contingent upon the company maintaining operations at the site for a specified period. The agreement includes provisions on non-discrimination, amendments, and indemnification.
Key points
The agreement is between the City of San José and Infinera Corporation.
Infinera is constructing a semiconductor fabrication facility in San José.
The City will provide $100,000 in financial assistance to Infinera.
Infinera plans to employ 775 workers at the new facility upon completion.
The agreement includes a non-discrimination clause and provisions for amendments.
Limitations
The document appears to be a draft.
Specific dates for the execution of the agreement and completion of the facility are not provided.
Unresolved placeholders for signer information are present.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 9,892 chars
CITY OF SAN JOSÈ CHIPS ASSISTANCE AGREEMENT FOR BUILDING/EXPANDING SEMICONDUCTOR PRODUCTION IN SAN JOSÈ THIS AGREEMENT for a City of San Josè CHIPS Assistance Agreement for Building/Expanding Semiconductor Production in San Josè (“Agreement”) is made by and between the CITY OF SAN JOSÉ, a municipal corporation (“City”), and Infinera Corporation, a Delaware Incorporated company (“Company”), a wholly owned subsidiary of Nokia Corporation, as of the date of full execution by City. RECITALS A. Company is a vertically integrated photonic semiconductor and telecommunications equipment manufacturer founded in California in 2000. The Company’s integrated circuits are critical in optical communications that enable fast and reliable transfer of large amounts of data connecting cities and nations across the globe. Company in 2020 relocated to San Josè and established headquarters at 6373 San Ignacio Avenue, leasing a two-story 82,000 square foot building and purchased the property in February 2026. Company is constructing a 45,000 square foot semiconductor fabrication production facility that is scheduled to be completed in 2027 with commencement of manufacturing operations. Company...