The Biden administration announced a preliminary agreement with Micron Technology, an Idaho-based semiconductor manufacturer, to invest in two manufacturing hubs in New York and Idaho. This agreement is part of the administration’s efforts to bolster domestic semiconductor chip manufacturing through the bipartisan CHIPS and Science Act. The investment from Micron is expected to reach $125 billion over the next two decades. The investment will create more than 70,000 jobs and support the construction of two facilities: one in Clay, New York, which will focus on leading-edge DRAM chip production, and one in Boise, Idaho, which will be a high-volume manufacturing hub for DRAM chips. This agreement is a significant step in the administration’s plan to reduce reliance on foreign supply chains and strengthen the U.S.’s leadership in artificial intelligence and national security. President Biden will travel to Syracuse, New York, to highlight the benefits of the agreement with Micron. The CHIPS and Science Act, passed with bipartisan support in 2022, is a key component of the Biden administration’s economic agenda and has been used to strike preliminary agreements with other companies, such as GlobalFoundries and Bae Systems, to invest in semiconductor chip manufacturing in the United States.
Biden’s CHIPS Act Drives Micron’s $125 Billion Investment in U.S. Semiconductor Manufacturing
