The Biden-Harris Administration, in partnership with Micron Technology, has unveiled a groundbreaking initiative to bolster U.S. competitiveness in leading-edge memory semiconductor production. The U.S. Department of Commerce has proposed up to roughly $6.14 billion in direct funding for Micron to expand domestic DRAM chip production in Idaho and New York, creating approximately 20,000 jobs and catalyzing up to $125 billion in private capital over the next two decades.
"Leading-edge memory chips are foundational to all advanced technologies, and thanks to President Biden’s leadership, America is rebuilding its capacity to produce these critical capabilities for the first time in almost two decades," stated U.S. Secretary of Commerce Gina Raimondo.
Micron President and CEO Sanjay Mehrotra expressed gratitude for the administration's support, acknowledging, "Thanks to President Biden’s historic CHIPS and Science Act, today's announcement is a meaningful step forward in America's leadership in semiconductor development and manufacturing."
The proposed investment aims to create a robust leading-edge DRAM chip ecosystem in the United States, with Micron committing to spend $50 billion towards the development of their first three fabs over the next six years. These projects are expected to generate over 9,000 manufacturing and facility jobs in New York and over 2,000 in Idaho.
Micron also plans to prioritize sustainability, with a focus on green infrastructure during construction and a goal of achieving net-zero emissions by 2050. Additionally, the company is dedicated to workforce development, partnering with educational institutions and organizations to train and recruit a skilled workforce for the semiconductor industry.
Furthermore, Micron is working closely with state governments to secure additional incentives for their projects. New York State has committed $5.5 billion in incentives for Micron's project in Clay, New York, while the company has signed a Community Investment Framework with Idaho, pledging $75 million towards workforce development and community priorities in the state.
The Department of Commerce's CHIPS for America initiative, part of President Biden's economic plan, aims to stimulate private sector investment, create jobs, and revitalize communities. The Micron project represents a significant milestone in advancing U.S. technological leadership and strengthening the nation's semiconductor competitiveness for generations to come.
