The United States has taken a significant step in bolstering its semiconductor manufacturing capabilities with the announcement of a major investment in Micron Technology. Vice President Kamala Harris highlighted the importance of this development, stating that "the spirit of innovation is central to who we are as Americans." The CHIPS and Science Act, championed by President Biden and Vice President Harris, has facilitated this initiative.
The Department of Commerce has finalized an award exceeding $6.1 billion to Micron Technology, the sole U.S.-based manufacturer of memory chips. This funding will support the construction of advanced memory chip facilities in Clay, New York, and Boise, Idaho. These projects are part of Micron's broader $125 billion investment plan over several decades and aim to create at least 20,000 jobs by the end of this decade. The goal is to increase the U.S.'s share in advanced memory manufacturing from nearly zero percent today to ten percent within ten years.
Vice President Harris expressed pride in Micron's commitment to using project labor agreements and registered apprenticeship programs for these developments. Such initiatives are expected to bolster local economies and ensure timely completion within budget constraints.
Additionally, there is an agreement on preliminary terms for an extra $275 million investment aimed at expanding Micron’s facility in Manassas, Virginia. This expansion focuses on onshoring critical technology essential for sectors such as defense, automotive, and national security.
Harris emphasized that these investments serve as catalysts for economic growth. She noted that upon taking office with President Biden, supply chain disruptions had led to shortages in chips and semiconductors. To address this issue, bipartisan efforts were made to pass legislation facilitating these unprecedented investments across various states.
These developments not only promise economic opportunities but also enhance national security by promoting domestic production of vital components used in numerous devices relied upon by Americans daily—from smartphones and vehicles to sophisticated defense systems and AI data centers.
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