On April 25th local time, the US government announced a non binding preliminary memorandum of terms (PMT) with Micron Technology, which will provide up to $6.1 billion in direct funding under the US Chip and Science Act to support Micron's cutting-edge memory manufacturing projects in New York and Idaho.
Micron plans to establish a "super wafer factory" in Clay, New York, which is a batch of large-scale chip production facilities. This government funding will be used to build the first two of the four factories. Micron also plans to use this funds to build another wafer factory in Boise, Idaho, where its headquarters is located. This wafer factory is located in the same location as the company's existing research facilities and will be a large-scale manufacturing facility.
The US government has stated that this funding will drive Micron to invest up to $125 billion in New York and Idaho over the next 20 years, with approximately $50 billion expected to be in place by 2030 at the latest. Micron's total investment is expected to create nearly 75000 domestic employment opportunities in the United States, including 20000 direct manufacturing and construction jobs.