Cree Inc. has announced that it will expand its manufacturing and R&D operations in North Carolina, with initial expansion activity beginning in the fall of 2004. This expansion will be located in the Research Triangle area near the company’s Durham headquarters. Cree expects the project to include the expenditure of a minimum of approximately $300 million in plant and equipment, and the creation of at least 300 new jobs over the next five years. Approximately $5.1 million in incentives related to job creation, capital expenditures and R&D activity have been made available by the state of North Carolina.

“This expansion will help Cree support the strong demand for our LED chip products and position the company for our targeted future growth not only in LED chips, but also our new XLamp and power product lines,” said Chuck Swoboda, president and CEO of Cree. “We are pleased to be expanding in North Carolina and greatly appreciate the support from the state of North Carolina.”

Cree is an advanced semiconductor company that leverages its expertise in silicon carbide (SiC), gallium nitride (GaN) and silicon (Si) materials technology to produce new and enabling semiconductors. The products include blue, green and near ultraviolet (UV) light emitting diodes (LEDs), near UV lasers, radio frequency (RF) and microwave devices, and power switching devices. Potential applications for these products include solid-state illumination, optical storage, wireless infrastructure and power switching.

For more information, visit www.cree.com.