Micron Secures $6.1B from CHIPS Act to Expand Semiconductor Production in Multiple States

Dec 10, 2024, 05:20 PM

Micron Technology Inc. has received a significant boost from the U.S. government, securing a $6.1 billion investment under the CHIPS and Science Act. This funding aims to expand and modernize microchip production in several states, including Virginia, Idaho, New York, Arizona, Oregon, and New York’s Onondaga County. The investment is part of a broader initiative to strengthen U.S. semiconductor manufacturing, enhance national security, and secure supply chains. In Virginia alone, up to $275 million will be allocated to Micron, supporting job creation and economic growth in the region. The CHIPS Act, passed in 2022, has been pivotal in bringing semiconductor manufacturing back to the U.S., with bipartisan support emphasizing its importance for national competitiveness and job accessibility.