The US Commerce Department announced it has awarded memory chip maker Micron Technology with “up to $6.165 billion in direct funding” derived from the CHIPS Act.
Over $6 billion in CHIPS Act funding finalized for Micron plants in the US
The US Commerce Department says Micron’s Idaho and New York plants will create around 20,000 jobs.
The US Commerce Department says Micron’s Idaho and New York plants will create around 20,000 jobs.
Illustration by Alex Castro / The Verge
The new funding will go towards multiple semiconductor manufacturing projects in the US, including an Idaho plant and a Syracuse, New York “mega-fab” facility, both announced in 2022. Between them, the Commerce Department says they’ll create about 20,000 jobs.
The grant, which was announced in April, approaches the size of other multibillion-dollar CHIPS Act subsidies given to Intel, TSMC, and Samsung. Micron “is committing to spend approximately $50 billion before the end of the decade,” according to the release.
The Commerce Department says it also “signed a non-binding Preliminary Memorandum of Terms” to give Micron $275 million in proposed funding for the expansion of its Manassas, Virginia facility. The funding goes to Micron with just over a month left before Donald Trump, who has criticized the CHIPS Act, will be inaugurated on January 20th.
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