Micron to invest $40 Billion in US memory manufacturing
As a direct response to the signing of the CHIPS Act, Micron has announced the largest ever investment in US memory manufacturing – estimated to create 40,000 US jobs.
Micron Technology says its plans to invest USD 40 billion through the end of the decade to build leading-edge memory manufacturing in multiple phases in the U.S.
With the anticipated grants and credits made possible by the CHIPS and Science Act, this investment will enable – what Micron describes as – "the world’s most advanced memory manufacturing in America."
The company says in a press release that it expects to begin production in the second half of the decade, ramping overall supply in line with industry demand trends.
This planed investment by Micron is said to be the largest in memory manufacturing in US history. It will ultimately create up to 40,000 new jobs including approximately 5,000 highly paid technical and operational roles at Micron. The company is currently finalising its specific US expansion plans and says that it will share additional details in the coming weeks.
The signing of the CHIPS and Science Act is described as a key element of Micron’s USD 150+ billion global investment in manufacturing and R&D over the next decade.
“I thank President Biden, U.S. Secretary of Commerce Gina Raimondo and the full Administration as well as members of Congress for their bipartisan support of the CHIPS and Science Act, which is an important step toward solidifying American semiconductor leadership for decades to come. I am honored to take part in this historic White House bill signing ceremony with them and fellow executives,” says Micron President and CEO Sanjay Mehrotra, in a press release. “This legislation will enable Micron to grow domestic production of memory from less than 2% to up to 10% of the global market in the next decade, making the U.S. home to the most advanced memory manufacturing and R&D in the world.”