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Biden To Announce USD$6.1B CHIPS Deal With Micron In New York/Idaho

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President Biden will travel to Syracuse, New York today to announce that the Biden Administration has reached an agreement to provide USD$6.1 billion in federal support for Micron Technology to produce advanced memory computer chips in New York and Idaho.

  • Senate Majority Leader Chuck Schumer, (D-NY), who was personally involved in negotiating Micron's role in four chip factories near Syracuse, said: “It will be the biggest memory chip plant in America. For the Syracuse area, this is the best thing that’s happened probably since the Erie Canal.”
  • The allocation from the CHIP and Science Act pot follows other recent awards to GlobalFoundries ($1.5 billion in grants and $1.6 billion in loans), Intel ($8.5 billion in grants and $11 billion in loans), and TSMC ($6.6 billion in grants and $5 billion in loans).
  • The Department of Commerce said in a statement: “The proposed funding would support the construction of two leading-edge Dynamic Random-Access Memory (DRAM) fabs in New York, the first step in Micron’s two-decade vision to invest approximately $100 billion in New York... [in addition] …the proposed funding would unlock a $25 billion investment in a DRAM fab in Idaho [would] create approximately 6,500 facility and construction jobs."
  • Secretary of Commerce Gina Raimondo said: “With this proposed investment, we are working to deliver on one of the core objectives of President Biden’s CHIPS program – onshoring the development and production of the most advanced memory semiconductor technology...”
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President Biden will travel to Syracuse, New York today to announce that the Biden Administration has reached an agreement to provide USD$6.1 billion in federal support for Micron Technology to produce advanced memory computer chips in New York and Idaho.

  • Senate Majority Leader Chuck Schumer, (D-NY), who was personally involved in negotiating Micron's role in four chip factories near Syracuse, said: “It will be the biggest memory chip plant in America. For the Syracuse area, this is the best thing that’s happened probably since the Erie Canal.”
  • The allocation from the CHIP and Science Act pot follows other recent awards to GlobalFoundries ($1.5 billion in grants and $1.6 billion in loans), Intel ($8.5 billion in grants and $11 billion in loans), and TSMC ($6.6 billion in grants and $5 billion in loans).
  • The Department of Commerce said in a statement: “The proposed funding would support the construction of two leading-edge Dynamic Random-Access Memory (DRAM) fabs in New York, the first step in Micron’s two-decade vision to invest approximately $100 billion in New York... [in addition] …the proposed funding would unlock a $25 billion investment in a DRAM fab in Idaho [would] create approximately 6,500 facility and construction jobs."
  • Secretary of Commerce Gina Raimondo said: “With this proposed investment, we are working to deliver on one of the core objectives of President Biden’s CHIPS program – onshoring the development and production of the most advanced memory semiconductor technology...”