December , 2018

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Company Considers Gurnee as Headquarters for High-Tech Job Growth

CHICAGO, IL — Governor Pat Quinn announced that his administration will support a proposed $15 million investment in northern Illinois by AKHAN Semiconductor, a leader in diamond semiconductor technology. AKHAN would receive assistance state investment worth about $3.5 million and has pledged to create 80 jobs in two years, with the potential for many more. The announcement is part of Governor Quinn’s agenda to create jobs and drive Illinois’ economy forward.

“The state of Illinois has placed a strong emphasis on technology and innovation to help fuel our economic comeback,” Governor Quinn said. “We are glad to work with and support such forward-thinking companies like AKHAN Semiconductor that are creating high-paying jobs and bringing 21st century technologies to our state.”

AKHAN is currently expanding its domestic and international operations, and the company would use the funds to help relocate and expand its corporate and manufacturing headquarters in Illinois. AKHAN is considering property in Gurnee after evaluating sites outside of Illinois. The project depends on the outcome of incentive discussions with local officials and while those negotiations are incomplete, AKHAN has support from Gurnee Mayor Kristina Kovarik and State Senator Melinda Bush (D-Grayslake). An expansion in Gurnee would provide a new source of highly skilled jobs supporting the Lake County economy.

“We’re grateful to the state for its support in growing Illinois’ semiconductor industry, and we look forward to creating new opportunities in production, research and design for years to come,” Adam Khan, founder and CEO, AKHAN Semiconductor said. “Illinois is in AKHAN Semiconductor’s DNA. Born at the U.S. Department of Energy’s Argonne National Laboratory and grown in northern Illinois for nearly eight years, we’re thrilled to be taking the first steps to make a permanent home where we continue to build our business quickly, with all the local resources we need at our disposal.”

AKHAN Semiconductor is the global leader in diamond semiconductor technology. Through the use of diamond lattice technology, the company focuses on the commercial use of diamond-based electronic devices and is developing a product line that will serve faster supercomputers, advanced aviation and satellite technology, advanced radar communication and next-generation telecommunication needs.

Under its agreement with the Illinois Department of Commerce and Economic Opportunity (DCEO), AKHAN would invest at least $15 million and create at least 80 jobs in two years. The company estimates that it might employ 250 people within three years. In exchange, the company would get a credit worth an estimated $3 million over 10 years against its state income tax liability. The credit under the state’s Economic Development for a Growing Economy, or EDGE, program, is available to companies weighing an investment in Illinois against sites elsewhere. AKHAN also would receive a $500,000 investment toward relocation costs and a $40,000 investment to train its new hires.

“AKHAN is further proof of our state’s appeal to companies leading the way in innovation,” DCEO Director Adam Pollet said. “Illinois has a strong support network for entrepreneurs who have to stay ahead of the game.”

AKHAN Semiconductor was formed in 2012 as a wholly owned subsidiary of AKHAN Technologies Inc., which was founded by Adam Khan in 2007. AKHAN Semiconductor launched in 2012 its patented Miraj Diamond™ Platform, a breakthrough energy-efficient semiconductor technology, developed at Argonne’s Center for Nanoscale Materials.

“Gurnee is an ideal home for a high-tech headquarters, with its well-educated workforce, central location and high quality of life,” Mayor Kovarik said. “AKHAN Semiconductor has an opportunity to stay close to home, which I wholeheartedly support. I hope to make Gurnee AKHAN Semiconductor’s home for years to come.”

“When an opportunity presents itself to keep an Illinois company in our state, we jump on it,” Senator Bush said. “Furthermore, the permanent addition of AKHAN Semiconductor – a clear leader in the next generation semiconductor field – reminds others that a variety of advanced technology industries can thrive in Illinois.”

The basic research behind AKHAN Semiconductor’s devices was performed at Argonne, and the two organizations pioneered a new production and diamond processing technology.

“Argonne’s research collaboration with AKHAN Semiconductor has played a key role in bringing these new technologies into the marketplace, and we are very proud that our work is driving the creation of new manufacturing jobs here in Illinois,” Peter Littlewood, director of Argonne National Laboratory, said. “We look forward to a strong, productive continuing relationship with the AKHAN Semiconductor team.”

For more information on why Illinois is the right place for business, visit www.illinois.gov/dceo.

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