Micron, Biden-Harris Administration, U.S. Senate Majority Leader Schumer Announce $6.1B in CHIPS and Science Act Funding for Historic Planned Investment in Domestic Leading-Edge Memory Manufacturing in Idaho and New York
BOISE, Idaho, April 25, 2024 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), one of the world’s largest semiconductor companies and the only U.S.-based manufacturer of memory, and the Biden-Harris Administration today announced that they have signed a non-binding Preliminary Memorandum of Terms (PMT) for $6.1 billion in funding under the CHIPS and Science Act to support planned leading-edge memory manufacturing in Idaho and New York.
- The CHIPS and Science Act grants of $6.1 billion will support Micron’s plans to invest approximately $50 billion in gross capex for U.S. domestic leading-edge memory manufacturing through 2030.
- Micron and the state of New York also established the Green CHIPS Community Investment Fund to support community and workforce development in the region.
- The two projects, as planned, will represent the single largest private investments ever made in the states of Idaho and New York.
- “This CHIPS investment makes possible the once in a lifetime investment here in Boise and in Central New York.