fbpx
The annual Global Impact Conference 2022 brings together visionary business leaders to revolutionize educational systems and inspire collaborative actionRead more APO Group announces content partnership with Pan-African broadcaster VoxAfricaRead more MainOne, an Equinix Company’s MDXi Appolonia Achieves Tier III Constructed Facility certification (TCCF), Now Most Certified Data Center in GhanaRead more United Nations High Commissioner for Refugees (UNHCR) warns rising tide of hunger, insecurity, and underfunding worsening gender-based violence risksRead more The Royal Thai Embassy presents the cultures of Thailand at the Association of Southeast Asian Nations (ASEAN) Festival in KenyaRead more Climate change is the biggest global threat, young people in Africa and Europe tell European Investment Bank (EIB), Debating Africa and Debating EuropeRead more $2 million in prizes awarded at Conference of the Parties (COP27) to African youth-led businessesRead more Africa and Europe’s top business and public sector leaders gather to chart Africa’s economic rebirthRead more Senegal to Host 8th All Africa Music Awards (AFRIMA), Tagged The Teranga EditionRead more The Thai delegation’s active participation at the 145th Assembly of the Inter-Parliamentary Union (IPU) in KigaliRead more

Micron unveils new $100 bn New York semiconductor plant

show caption
CEO of Micron Sanjay Mehrotra testified in March in Congress on the need for federal investment for semiconductor manufacturing./AFP
Print Friendly and PDF

Oct 06, 2022 - 12:28 AM

NEW YORK — Micron announced Tuesday it will invest up to $100 billion to build semiconductors in New York state, capitalizing on US policies to boost domestic manufacturing of key goods.

The chip giant, which is based in the western state of Idaho, said it plans to begin construction in 2024 on a project expected to be executed over two decades.

New York state is providing $5.5 billion in state incentives over the life of the build-out and the project also expects to utilize tax credits under the Chips Act signed into law by President Biden in August, said a Micron news release.

At an event in Syracuse to announce the investment, New York Governor Kathy Hochul likened the drive to a “fourth industrial revolution” and alluded to an improvement in fortunes for a upstate New York region that had lost thousands of manufacturing jobs in earlier decades.

There is “hope of a better tomorrow,” Hochul said.

Micron, describing the plant as the “largest semiconductor fabrication facility in the history of the United States,” said the venture would create 50,000 jobs in the state, including 9,000 at Micron.

Biden touted the investment as reflecting the importance of the Chips and Science Act, which included around $52 billion to promote production of microchips, the tiny but powerful and relatively hard-to-make components at the heart of almost every modern piece of machinery.

“To those who doubted that America could dominate the industries of the future, I say this -– you should never bet against the American people,” Biden said in a news release. “Today is another win for America.”

Shortages of semiconductors have been a drag on the global economy during the pandemic, crimping production of automobiles, personal electronics and other goods.

Micron Chief Executive Sanya Mehrota said the investment “will deliver benefits beyond the semiconductor industry by strengthening US technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come.”

  • bio
  • twitter
  • facebook
  • latest posts

LMBCNEWS.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.