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Micron says US CHIPS money will underpin US$50 billion spend

Micron says US CHIPS money will underpin US$50 billion spend

Business news |
By Peter Clarke

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US$6.1 billion in funding from the US government, under the CHIPS and Science Act, is set to support US$50 billion spending by Micron in Idaho and New York across the period to 2030.

The US CHIPS and Science Act is also set to subsidize capital spending by Globalfoundries in New York, TSMC in Arizona and Samsung in Texas (see Report: Samsung plans third Texas wafer fab at US$24 billion cost and TSMC agrees to build third Arizona fab, make 2nm chips in US).

Micron Technology Inc. (Boise, Idaho) said that memory chip wafer fabs to be built in Idaho and New York would create approximarely 75,000 direct and indirect jobs in the US.

The company announced that it is has signed a non-binding preliminary memorandum of terms (PMT) for US$6.1 billion to support leading-edge memory manufacturing in Idaho and New York. There will be one leading-edge memory fab co-located the company’s existing R&D facility in Boise, Idaho plus the construction of two leading-edge memory fabs in Clay, New York. Micron said the PMT allowed the company to be flexible and responsive to market conditions.

It also said it is eligible for a number of additional grants; such as US Treasury tax credits of 25 percent on capital investments, workforce grants to support efforts to train individuals so that they can take jobs in the industry. In terms of direct semiconductor employment Micron expects to create 2,000 jobs in Idaho and 9,000 jobs in New York.

“With these proposed investments, coupled with Micron’s historic private investment of up to $125 billion in New York and Idaho over the next 20 years, President Biden is working to revitalize US technological leadership and creating tens of thousands of good-paying jobs,” said Commerce Secretary Gina Raimondo, in a statement issued by Micron.

Construction of the Boise fab began in October 2023 and it is expected to be operational in 2025, with DRAM output starting in 2026. In New York, construction of the first fab is expected to begin in calendar year 2025 with output due in 2028.

In addition to the Idaho and New York projects, Micron has applied under the CHIPS program to modernize its Manassas, Virginia fab for the production of long-lifecycle chips in support of automotive, industrial, aerospace and defense applications.

Related links and articles:

www.micron.com

News articles:

Micron ships 232-layer QLC NAND flash memory  

Samsung boosts 1Tbit 3D-NAND bit density by 50 percent

Report: Samsung plans third Texas wafer fab at US$24 billion cost

TSMC agrees to build third Arizona fab, make 2nm chips in US

$1.5bn for GlobalFoundries GaN fab capacity

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