Micron to invest up to $100 billion to build a chip factory in New York

Micron Technology announced that it will spend $20 billion to build the largest semiconductor factory in the United States, and that it could spend up to $100 billion over the next 20 years to develop it.

The plant, which will be located in New York will be the size of 40 American football fields, create nearly 50,000 jobs and increase the domestic supply of memory chips.

Micron President and CEO Sanjay Mehrotra issued a statement thanking President Biden and his administration for making the CHIPS and Science Act a priority, with an investment of $200 billion over the next five years and incentives for companies to build, expand and modernize U.S. facilities and equipment.

The law was enacted in response to a worldwide shortage of building blocks in smartphones, cars, and computers, with the aim of reducing US reliance on offshore chip production from Asia.

The company also said that New York State’s $5.5 billion in incentives, as well as expected federal grants and tax credits from the CHIPS and Science Act, are crucial to support hiring and capital investment.

While regional policies and the impact of technology on American society and culture are driving semiconductor manufacturing’s reshoring, the CHIPS Act is the final push, because funds, subsidies, and tax breaks create a level playing field in which U.S. companies can compete with those in Asia, said Gaurav Gupta, Gartner’s vice president for emerging technologies and trends.

The sources for this piece include an article in ComputerWorld.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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