Micron reportedly pledges $100 billion for a new chip factory in the state of New York. The company says that the said project will help to create the biggest semiconductor factory in the United States.
Micron Reportedly Pledges $100 Billion for New Chip Factory
Chip-making company Micron Technology on Tuesday said that it will be spending up to one hundred billion USD over the next two decades on building a semiconductor factory in upstate New York. The project in question will create close to 50,000 jobs in New York and this includes 9,000 high-paying Micron positions, the company affirmed. Micron also plans to make the first set of investments of $20 billion by the decade’s end. And in return the company will receive $5.5 billion in incentives from the state of New York over the span of the project, it noted.
The CHIPS and Science Act
The announcement by Micron is coming on the heels of the signing into law the CHIPS and Science Act by president Joe Biden, which will be sending $52.7 billion o processor producers over the next five years in an effort to help the United States claim leadership of the semiconductor industry which it has lost to companies overseas.
Boise Announced That It Would Be Investing $40 Billion in the Memory Chip Manufacturing Capacity
Boise, Idaho-based Micron announced at the same time that it would be investing $40 billion in the memory chip manufacturing capacity. This move could and would spike the US share of memory-chip making from 10% to 20%.
The facility which was announced on Tuesday is set to be built in Clay, New York and it will create the biggest semiconductor factory in the United States according to Micron it will include 2.4 million square feet of cleanroom space which is approximately the size of 40 football fields.
CEO of Micron’s Official Press Release
On Tuesday, the CEO of Micron, Sanjay Mehrotra said that he is grateful to Biden and his administration for making the CHIPS and Science Act a priority. In a statement, Mehrotra said, “This historic leading-edge memory megafab in Central New York will deliver benefits beyond the semiconductor industry by strengthening US technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come.”