US-based memory chipmaker Micron Technology detailed plans to invest up to $100 billion over the next 20 years to build a large chip factory in the state of New York as part of its effort to increase production of memory chips in the nation.
Site preparation will start in 2023 with construction to commence in 2024. Production output will ramp in the latter half of the current decade. Micron Technology stated it will have invested the first $20 billion of the total sum by 2030.
The plant will create nearly 50,000 jobs in the state, including 9,000 high-paying Micron Technology positions.
Micron Technology stated the site could provide 2.4 million square feet of clean room space. The facility forms part of a goal for US DRAM production to account for 40 per cent of the company’s total output over the next ten years.
US Senate majority leader Chuck Schumer worked with New York governor Kathy Hochul to secure the plant.
New York will be home to one of the largest economic development projects in American history.
The state’s largest-ever manufacturing project, @MicronTech is investing $100 billion over 20 years in a semiconductor manufacturing campus that will create nearly 50,000 jobs.
— Governor Kathy Hochul (@GovKathyHochul) October 4, 2022
Micron Technology will also receive $5.5 billion in incentives from New York over the life of the project, along with anticipated CHIPS and Science Act benefits.
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