The Biden-Harris administration has awarded semiconductor giant Micron Technology up to $6.165 billion in direct funding through the CHIPS Incentives Program, aiming to significantly expand U.S. semiconductor manufacturing capabilities.
The funding, part of the 2022 CHIPS and Science Act, seeks to increase the United States’ share of advanced memory chip manufacturing from 2% to 10% by 2035, according to the Department of Commerce. This initiative is crucial for strengthening domestic production and maintaining America’s competitive edge in technologies like artificial intelligence.
To date, the CHIPS for America program has allocated over $25 billion of the $36 billion in proposed incentives funding. “Memory chips are foundational to all advanced technologies, and thanks to the bipartisan CHIPS and Science Act, America is rebuilding its capacity to produce these critical capabilities,” said Secretary of Commerce Gina Raimondo.
Founded in 1978 in Boise, Idaho, Micron Technology is a leading producer of DRAM chips, solid-state drives, and other digital memory and storage products. “As the only U.S.-based manufacturer of memory, Micron is uniquely positioned to bring leading-edge memory manufacturing to the U.S.,” said Micron President and CEO Sanjay Mehrotra.
The funding will support Micron’s long-term investment plans, including $100 billion in New York and $25 billion in Idaho. Additionally, the Department of Commerce signed a preliminary agreement for up to $275 million to modernize Micron’s facility in Manassas, Virginia.
This strategic investment is a major step in securing the U.S. supply chain, ensuring technological leadership, and boosting domestic manufacturing in key states like New York, Idaho, and potentially Virginia.
