Micron Secures $6.1 Billion CHIPS Act Funding for U.S. Semiconductor Expansion
The investment supports new manufacturing facilities in New York and Idaho, with additional funding for a Virginia expansion to bolster domestic chip production and job creation.
- The U.S. Department of Commerce finalized $6.165 billion in CHIPS Act funding for Micron Technology to build semiconductor facilities in New York and Idaho, expected to create 20,000 jobs by 2030.
- An additional $275 million in proposed funding will support the expansion of Micron’s Manassas, Virginia facility, focusing on legacy memory chips critical for automotive and industrial markets.
- Micron plans to invest $125 billion over the next two decades, aiming to increase the U.S. share of advanced memory manufacturing from 2% to 10% by 2035.
- The funding comes as part of the Biden administration’s effort to strengthen domestic semiconductor production and reduce reliance on foreign suppliers like China and Taiwan.
- The finalized agreements ensure funding continuity despite political changes, as President-elect Donald Trump has criticized the CHIPS Act and proposed alternative approaches to boost U.S. chip manufacturing.
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