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U.S. Finalizes $6.1B Subsidy for Micron Technology, Creating 20,000 Jobs by 2030
Dec 10, 2024, 12:10 PM
The U.S. Commerce Department has finalized a $6.1 billion subsidy for memory chipmaker Micron Technology under the CHIPS Act. This investment aims to support the development of semiconductor manufacturing projects in New York and Idaho, which are expected to generate over 20,000 jobs by 2030. Additionally, $275 million has been allocated for expanding facilities in Virginia that are critical for defense purposes. Following the announcement, Micron's shares rose by 1% in premarket trading.
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