Micron plans to invest $15 billion in a new semiconductor plant in its hometown through the end of the decade, creating 17,000 American jobs.
Sanjay Mehrotra, president and CEO of Micron, based in Boise, Idaho, said his company’s investment was made possible by last month’s passage of the CHIPS and Science ACT of 2022, a $280 billion bill aimed at boosting US competitiveness against China and avoiding another chip shortage like the one that derailed the auto and tech industries during the pandemic.
The CHIPS Act allots $52 billion to help the semiconductor industry, which has struggled to manufacture the tiny chips that power everything from smartphones to computers to autos due to COVID-related supply chain bottlenecks beginning in 2020.
“Our new cutting-edge memory manufacturing fab will fuel US technological leadership by maintaining a reliable domestic supply of semiconductors, which is important to economic and national security,” Mehrotra added.
Micron claims that putting the manufacturing plant within the company’s operations headquarters will enhance efficiency and speed up product development.
According to Boise Mayor Lauren McLean, the collaboration will help the city’s economy thrive and attract a diverse workforce.
McLean and Mehrotra were in attendance at President Biden’s bill signing ceremony for the CHIPS and Science Act last month. Idaho’s entire congressional delegation, all of whom are Republicans, voted no.
Biden described Micron’s announcement as “another significant success for America.”
Micron is a major employer in Idaho. The corporation has semiconductor production facilities all throughout the world, including Singapore and Taiwan.
Intel Corp. said this week that it would break ground on its $20 billion Ohio semiconductor plant on September 9. The fabs, or factories, are scheduled to open in 2025. President Biden is expected to attend the groundbreaking ceremony.
