Micron Technology receives $6.1 billion from CHIPS and Science Act to establish new fabs in New York and Idaho
Micron Technology and the U.S. Department of Commerce have signed a preliminary memorandum of terms (PMT) funding agreement. As part of the agreement, Micron will receive $6.1 billion from the CHIPS and Science Act. This funding will be used to help Micron build new fabs in New York and Idaho. Additionally, Micron plans to invest over $100 billion over the next two decades, generating tens of thousands of direct and indirect jobs.
What people are saying
In a recent quote, Majority Leader Chuck Schumer said, “This monumental and historic federal investment will power and propel Micron to bring its transformational $100+ billion mega-fab project to life, creating an estimated 50,000 jobs in New York alone and further propelling America’s manufacturing resurgence. With billions in federal investment from my CHIPS & Science law, we are taking the next steps to get shovels in the ground to rebuild industrial regions of the country like Upstate NY with good-paying, middle class jobs and make chips here at home that will power America’s future. From smartphones to AI to our nation’s most sensitive defense technologies, the memory chips Micron makes are in nearly every product of our modern economy.”
Latest semiconductor news
Samsung to receive $6.4 billion from the CHIPS and Science Act to establish semiconductor ecosystem in Texas
This funding will complement Samsung’s investment of $40 billion into its existing hub in Texas, which would create 20,000 new jobs in the coming years.
TSMC receives $6.6 billion from CHIPS Act and announces third fab in Arizona
Additionally, TSMC may receive up to $5 billion in loans from the U.S. government.
GlobalFoundries receives $1.5 billion from CHIPS and Science Act to build new semiconductor facility and upgrade 2 existing sites
The new 300 mm fabrication facility will be located in Malta, New York and is engineered to produce technologies not currently available in the U.S.
Learn more about semiconductor manufacturing
The CHIPS Act Helps the Wrong Companies
The future of semiconductors is all about innovation, but that's not a priority of US funding.
How to Confidently Source Electronic Chips on the Open Market
With the help of experienced independent distributors, manufacturers can confidently purchase quality parts with risk mitigation measures in place.
Investing in American manufacturing in 2024
This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.
About the Author
Alexis GajewskiAlexis Gajewski
Senior Content Strategist
Alexis Gajewski is a manufacturing writer and editor with nearly 20 years of experience covering the people, practices, and technologies that keep industrial facilities running. For more than a decade, she served as Senior Content Strategist for Plant Services, creating content for plant managers, engineers, and maintenance professionals on a variety of industrial topics.
During her tenure, Alexis worked to develop the brand’s digital strategy and helped launch and produce Great Question: A Manufacturing Podcast. She also created The Lighter Side of Manufacturing, a weekly blog that explored the inventive and sometimes humorous side of the industry.
Alexis co-founded Influential Women in Manufacturing, a recognition program that honored 49 women in its first two years, earned an industry award for Best Product Launch, and received a proclamation from Illinois Governor JB Pritzker and a commendation from U.S. Senator Tammy Duckworth.
She also led newsroom operations and development at a large media company where she set editorial standards, developed training curriculum, and helped support AI adoption for more than 150 editors across 80+ brands spanning manufacturing, industrial processing, automation, and more.
Additionally, Alexis works as a freelance writer and editor, and her areas of interest include continuous improvement, the skilled workforce, and the role of emerging technology on the plant floor.
Connect with Alexis on LinkedIn
