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Micron qualifies for a billion-dollar grant from the US Department of Commerce. The chipmaker is in line to receive approximately $6.1 billion, although the final amount is still pending confirmation. The grant is designated for the establishment of new factories within the US. Over the next twenty years, Micron intends to develop a cluster of chip factories in New York State.
According to Senator Chuck Jones, "This investment will enable Micron to realize its ambitious $100 billion factory project in the heart of New York, creating an estimated 50,000 jobs." In the summer of 2022, President Joe Biden signed the Chips and Science Act into law, aiming to decrease American reliance on foreign chip manufacturers and products.
A total of $52.7 billion has been allocated to the chip sector in the United States. In March, Intel was granted $8.5 billion, and in early April, it was announced that TSMC would receive $6.6 billion. Samsung is also set to receive a billion-dollar subsidy, with the South Korean manufacturer securing $6.4 billion for, among other things, the construction of factories in Texas.
English (US)