Micron awarded $6.1B in CHIPS Act funding

 Micron Technology has reached a preliminary agreement under the CHIPS and Science Act under which it will receive $6.1 billion to develop advanced memory manufacturing facilities in Idaho and New York. The total investment from Micron could reach $50 billion by 2030, supporting the creation of several leading-edge memory production plants. This includes expanding an existing facility in Boise, Idaho, and constructing two new facilities in Clay, New York.

The funding and additional incentives from state and local governments, as well as potential tax credits from the U.S. Treasury, will facilitate competitive, cutting-edge memory manufacturing in the U.S. These initiatives are expected to generate about 75,000 jobs over the next 20 years, boosting both local economies and the national economic and security landscape. The investments represent significant private financial commitments in Idaho and New York, marking a major step in enhancing U.S. semiconductor capabilities and innovation.

Micron initiated construction on its Boise fab in October of calendar year 2023. The fab will be co-located with Micron’s world-class R&D center to enhance operational efficiency, accelerate technology deployment and improve time to market for leading-edge products. The Idaho fab is expected to come online and be operational in calendar year 2025, with DRAM output starting in calendar year 2026 and ramping in line with market demand over the second half of the decade.

In New York, preliminary design, field studies and permitting applications, including NEPA, are underway for the project. Construction of the first fab is expected to begin in calendar year 2025 and to come online and contribute to output in calendar year 2028, ramping in line with market demand over the next decade.

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