Micron to spend up to $100 billion on chip factory in New York

AP
AP

Summary

  • Company says plant will increase domestic chip supply and create nearly 50,000 jobs in New York

Micron Technology Inc. has agreed to invest up to $100 billion to build a massive semiconductor manufacturing campus in upstate New York.

The chip maker said Tuesday that it has plans to build the largest semiconductor fabrication facility in the U.S. It will increase the domestic chip supply and create nearly 50,000 jobs in New York, including about 9,000 high-paying jobs at Micron.

The facility is set to be constructed over the next 20 years in Clay, N.Y., with $20 billion to be invested by the end of this decade, Micron said. The company said it aims to use 100% renewable electricity to power the new facility.

Gov. Kathy Hochul said Micron’s plan represented the largest private-sector investment in state history and would solidify New York as a global manufacturing hub.

The plan comes less than two months after the passage of the bipartisan Chips and Science Act, which aimed to boost domestic innovation by subsidizing the construction or expansion of semiconductor fabrication plants in the U.S.

Micron Chief Executive Officer Sanjay Mehrotra praised the Biden administration and Congress on Tuesday for giving priority to the bill.

“This historic leading-edge memory megafab in Central New York will deliver benefits beyond the semiconductor industry by strengthening U.S. technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come," he said.

This story has been published from a wire agency feed without modifications to the text

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