Micron secures substantial US$6.1 billion funding for CHIPS and scientific advancements.

Micron Technology, Inc., a important semiconductor company, has announced a non-binding Preliminary Memorandum of Terms (PMT) with the Biden-Harris Administration for $6.1 billion in funding under the CHIPS and Science Act. This funding will support Micron’s plans to invest approximately $50 billion in leading-edge memory manufacturing in Idaho and New York.

The CHIPS and Science Act grants will aid in the construction of one leading-edge memory manufacturing fab in Boise, Idaho, and two leading-edge memory fabs in Clay, New York. These investments mark the first step towards Micron’s vision of establishing both a leading-edge R&D and manufacturing center in Boise and a four-fab manufacturing complex in Clay over the next 20-plus years.

The investments will not only support Micron’s objective to meet long-term industry bit demand growth but also create significant job opportunities. Micron’s planned state-of-the-art semiconductor manufacturing facilities are expected to generate approximately 75,000 domestic jobs over the next 20-plus years. In Idaho alone, this includes 2,000 Micron jobs, 4,500 construction jobs, and 15,000 indirect jobs. In New York, it involves 9,000 Micron jobs, 4,500 construction jobs, and 40,000 indirect jobs.

Micron’s investment in leading-edge memory manufacturing will contribute to supply chain resiliency and strengthen U.S. economic and national security. As the only U.S.-based memory manufacturer, Micron’s efforts will help increase the country’s share of advanced memory manufacturing from less than 2% to approximately 10% by 2035.

To support its manufacturing plans, Micron is committed to developing the next-generation workforce and enriching communities in Idaho and New York. The company will focus on various initiatives, including K-12 education programs, university partnerships, and community-based investments.

Micron’s construction in Boise is expected to begin in 2023, with the fab becoming operational in 2025. In New York, preliminary design and permitting applications are already underway, with construction of the first fab expected to commence in 2025 and contribute to output in 2028.

Overall, Micron’s investments, combined with federal and state incentives, will enable cost-competitive, leading-edge memory manufacturing in the U.S. These efforts align with President Biden’s goal of revitalizing U.S. technological leadership, creating high-paying jobs, and safeguarding economic and national security.

(Source)

Background Information

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About Micron Technology: Micron Technology, headquartered in Boise, Idaho, is a global leader in innovative memory and storage solutions. Founded in 1978 by Ward Parkinson, Joe Parkinson, Dennis Wilson, and Doug Pitman, Micron has played a pivotal role in advancing semiconductor technology. The company produces dynamic random-access memory (DRAM), flash memory, and USB flash drives. Micron’s products cater to various applications, including AI, automotive, mobile devices, data centers, and client PCs. Their commitment to innovation and memory technology has positioned them as a key player in the industry.