Wolfspeed Launches New York Semiconductor Registered Apprenticeship Program with Support from the National Institute of Innovation and Technology

Rhea-AI Summary

Wolfspeed signs its first apprentice for the Registered Apprenticeship Program in Mohawk Valley Fab, supported by the National Institute for Innovation and Technology and the USDOL. The program aims to develop semiconductor talent and expand opportunities in the industry.

Market Research Analyst

The establishment of Wolfspeed's Registered Apprenticeship Program (RAP) in collaboration with the National Institute for Innovation and Technology and the USDOL is a strategic move to address the talent gap in the semiconductor industry. This initiative is crucial as the industry faces a shortage of skilled workers, which can hamper production capabilities and growth prospects. The program's design, which integrates on-the-job training with college instruction, is aligned with the best practices in workforce development, offering a 'learn-and-earn' approach. This is beneficial for Wolfspeed in terms of reducing recruitment costs and enhancing employee retention by investing in workforce training and development.

By focusing on local talent development through partnerships with regional entities like MACNY and MVCC, Wolfspeed is also contributing to regional economic development. This could potentially create a competitive advantage for Wolfspeed, as a skilled and dedicated local workforce can lead to increased productivity and innovation. Moreover, the program's emphasis on scalability and extension across the U.S. indicates Wolfspeed's commitment to national workforce development, which could influence investor perception positively by highlighting the company's long-term strategic vision and its alignment with national interests in securing semiconductor supply chains.

Financial Analyst

Wolfspeed's investment in its workforce through the RAP could have financial implications that resonate with investors and stakeholders. The program is likely to enhance Wolfspeed's operational efficiency over time by cultivating a pipeline of well-trained technicians who are familiar with the company's culture and processes. This could lead to reduced downtime and improved yield, which are critical performance metrics in the semiconductor industry. The financial benefits may not be immediate but can manifest as reduced training and hiring costs, lower turnover rates and higher productivity in the medium to long term.

Furthermore, the partnership with the National Institute for Innovation and Technology and the support from the USDOL may also provide Wolfspeed with access to federal resources and potential subsidies, which can offset the costs of the program. Investors should monitor the program's progress and its impact on Wolfspeed's financials, particularly as the company works towards capacity expansion goals at its Mohawk Valley Fab, which is a significant factor in future revenue growth and market share expansion.

Economic Development Expert

The RAP's potential impact on the broader economy and labor market should not be underestimated. By providing structured pathways for career advancement in the high-tech sector, Wolfspeed is contributing to the upskilling of the American workforce. This is likely to have a ripple effect, creating more high-quality jobs and potentially stimulating local economies, especially in the Mohawk Valley region. The emphasis on STEM education and the semiconductor industry as a career destination could inspire other companies to follow suit, leading to a more robust and competitive domestic industry. Such initiatives are aligned with national policies aimed at bolstering the U.S. semiconductor industry against global competition and supply chain vulnerabilities.

The collaboration with educational institutions like MVCC also underscores the importance of industry-academia partnerships in addressing the skills gap. This can lead to the development of specialized curriculums that are directly relevant to industry needs, thus enhancing the employability of graduates. In the long run, these efforts can contribute to the nation's economic resilience and technological leadership, which are key factors in maintaining a competitive edge in the global market.

Wolfspeed signs first apprentice for Registered Apprenticeship Program to support workforce development for its Mohawk Valley Fab

HANOVER, Md., March 4, 2024 /PRNewswire/ -- Today the National Institute for Innovation and Technology and the United States Department of Labor (USDOL) applauded U.S. semiconductor manufacturing company Wolfspeed for the establishment of its New York Registered Apprenticeship Program (RAP). As the nation's leader in semiconductor talent pipeline development, the Institute serves as the USDOL's national Intermediary responsible for expanding Registered Apprenticeships (RAs) throughout the semiconductor and nanotechnology industry supply chains.

Facilitated by the Manufacturers Association of Central New York (MACNY) through the Institute's Growing Apprenticeships in Nanotechnology and Semiconductor (GAINS) program, Wolfspeed's program will provide opportunities for workers that are looking to expand their skills and build a career in the semiconductor and advanced manufacturing industry.

"We commend Wolfspeed for championing domestic semiconductor manufacturing with the establishment of its Registered Apprenticeship at their Mohawk Valley Fab," stated Mike Russo, President and CEO of the Institute. "As the USDOL Intermediary dedicated to expanding Registered Apprenticeships throughout the semiconductor and nanotechnology-related supply chains, we're thrilled to offer technical support and subject-matter expertise to Wolfspeed through our GAINS program. Registered Apprenticeships provide individuals from all backgrounds with the chance to obtain high-quality jobs and vital skills through a learn-and-earn framework, presenting a significant opportunity for Americans exploring career and educational pathways."

The GAINS Program equips individuals in Wolfspeed's RAP with crucial skills for career advancement. Employers and apprentices alike benefit from the Institute's resources, including the National Talent Hub – an interactive online platform facilitating skills assessments, educational and career planning, professional development support, training progress tracking, and program administration assistance. These initiatives align curriculum, cultivate regional talent pipelines and foster a dynamic workforce.

"Our GAINS program is scalable and extends to all participating employers' sites across the U.S. However, we work closely with regional partners to implement our program effectively. In New York specifically, I'd like to thank Mohawk Valley Community College (MVCC) for providing the Required Technical Instruction for the program and to MACNY for serving as a group sponsor," stated Martha Ponge, National Apprenticeship Director at the Institute.

Earlier this month, Wolfspeed celebrated the official signing of Aaron Albright as the first apprentice in the Mohawk Valley program. Albright has been with Wolfspeed for the past 18 months, initially starting on the materials handling team before advancing to the manufacturing technician team. In January 2024, he transitioned into his current role as an Equipment Apprentice.

Albright and future Wolfspeed apprentices will complete a 16-month program for placement in the company's Equipment Technician career pathway in an Industrial Manufacturing Technician role. The RAP involves 2,700 hours of on-the-job training and 216 hours of college instruction provided by MVCC.

"At Wolfspeed, we are committed to making the next generation aware of the incredible career opportunities in the semiconductor industry and broader STEM fields to help power a better and brighter future," said Wolfspeed Chief Human Resources Officer, Margaret Chadwick. "Our New York RAP will simultaneously train up-and-coming industry professionals while helping us develop our workforce and reach capacity expansion goals at our Mohawk Valley Fab. We are excited to work with our apprentices, building out the semiconductor industry here in the U.S., and we're grateful for collaborators like the Institute, MACNY, and MVCC who help to make these advancements possible."

For more information about the Institute's work, visit www.niit.org.

For more information about Wolfspeed, visit www.wolfspeed.com.

About the National Institute for Innovation and Technology

The Institute is a 501(c)(3) with a mission to identify roadblocks to innovation in strategic industry sectors, those important to the U.S. national security and global competitiveness, and ensure they are eliminated. The Institute is responsible for a national strategy to support the development of the talent pipeline required for the Semiconductor Industry, including Advanced Manufacturing and the tech sector. The Institute's National Talent Pipeline Development Initiative represents a comprehensive, nationally integrated approach that enables broader participation by promoting skills-based learning and hiring, connecting the public education system, returning service members and their families and adults from other occupations to related technician and engineering careers. For more information about the Institute, visit www.niit.org.

About Wolfspeed, Inc.

Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed's product families include silicon carbide material and power devices targeted for various applications such as electric vehicles, fast charging, and renewable energy and storage. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.

X (Formerly Twitter): @Wolfspeed 
LinkedIn: @Wolfspeed

Wolfspeed® is a registered trademark of Wolfspeed, Inc.

View original content:https://www.prnewswire.com/news-releases/wolfspeed-launches-new-york-semiconductor-registered-apprenticeship-program-with-support-from-the-national-institute-of-innovation-and-technology-302078815.html

SOURCE National Institute for Innovation and Technology

What is Wolfspeed's Registered Apprenticeship Program about?

Wolfspeed's program aims to provide opportunities for workers to expand their skills and build a career in the semiconductor and advanced manufacturing industry.

Who applauded Wolfspeed for establishing the program?

The National Institute for Innovation and Technology and the USDOL applauded Wolfspeed for its Registered Apprenticeship Program.

Who is the President and CEO of the Institute?

Mike Russo is the President and CEO of the Institute.

What does the GAINS Program provide for Wolfspeed's apprentices?

The GAINS Program equips individuals in Wolfspeed's RAP with crucial skills for career advancement.

Who was the first apprentice signed by Wolfspeed?

Aaron Albright was the first apprentice signed by Wolfspeed in the Mohawk Valley program.

What role did Aaron Albright transition into at Wolfspeed?

Aaron Albright transitioned into his current role as an Equipment Apprentice at Wolfspeed.

How long is the RAP program at Wolfspeed?

The RAP program at Wolfspeed involves 2,700 hours of on-the-job training and 216 hours of college instruction.

What are Wolfspeed's goals with the New York RAP?

Wolfspeed aims to train industry professionals, develop their workforce, and reach capacity expansion goals at the Mohawk Valley Fab through the New York RAP.