TTM to use $30 million federal award for DeWitt expansion project

DeWITT — TTM Technologies Inc. (NASDAQ: TTMI) will use a $30 million federal award to boost the expansion project at its site in DeWitt where the firm will manufacture advanced printed circuit boards (PCBs) “that are critical to America’s national security.” The U.S. Department of Defense awarded the funding that comes from the Defense Production Act Title III program, U.S. Senate Majority Leader Charles Schumer (D–N.Y.) announced Oct. 1. TTM Technologies, Inc., a California–based firm with operations in DeWitt, has chosen the Syracuse suburb for an upcoming high-tech manufacturing facility that will create an estimated 400 jobs. The firm intends to invest up to $130 million to build the new plant, Gov. Kathy Hochul and Sen. Schumer said in announcing the project on Nov. 1, 2023. Specifically, TTM will use the $30 million to acquire and install advanced-manufacturing equipment and develop prototype designs for its new, more than 200,000-square-foot facility. The expansion will help TTM significantly increase domestic production of ultra-high density printed circuit boards and bolster supply-chain resilience, which is “in line with the 2024 National Defense Industrial Strategy,” Schumer’s office said. “We cannot have the printed circuit boards our military and chip industry rely on overwhelmingly made overseas. This $30 million federal investment will ensure the future of this industry, that is vital to America’s national security, is made here in Central NY by the 400 new, good-paying jobs being created by TTM. TTM is the largest printed circuit board producer in the country. Their technology is state-of-the-art, and the DoD’s investment in Central NY-made advanced printed circuit boards will make our supply chains more secure,” Schumer said in the announcement. “With TTM recently breaking ground, this $30 million could not come at a better time to accelerate their growth and meet this pressing national security need.” He went on to explain that printed circuit board manufacturing is currently “overwhelmingly” based in Asia, and the nation’s military and its semiconductor and broader microelectronics industries “need to onshore” printed circuit board manufacturing to “better protect our national security” and meet increased demand spurred by the CHIPS & Science Law. “The $30 million announced today will help TTM accelerate its efforts to bring high-tech capabilities back to the U.S., creating a stable supply of secure, American-made, advanced printed circuit board and further positioning Upstate NY as an epicenter in the global microelectronics industry and Central NY and the I-90 Tech Hub as the heart of this growing industry,” Schumer said. Schumer said American companies, including defense contractors providing critical products for the military, currently have a greater demand for ultra-high density interconnect (UHDI) PCBs than domestic producers can supply. The senator said this presents “national security risks, making it critical that the United States develop the capability to manufacture Ultra-HDI PCBs at-scale as soon as possible.” TTM’s expanded Central New York facility will be one of the most technologically advanced and largest PCB manufacturing sites in North America, with a highly optimized process to allow for shorter lead times, faster delivery, and a significant increase in domestic capacity for Ultra-HDI PCBs, adding to TTM’s existing Central New York workforce of about 600 employees, per Schumer’s office.