April 25, 2024 17:49 GMT
President Biden Remarks On CHIPS And Science Investment Underway Shortly
US
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US President Joe Biden is shortly due to deliver remarks from Syracuse, New York on a majorfunding allocation to Micron to develop semiconductor manufacturing plants in New York and Idaho. LIVESTREAM
- Under the terms preliminary agreement, Micron would be eligible for USD$6.14 billion in direct grants and USD$7.5 billion in loans - the second-largest package awarded so-far from the 2022 CHIPS and Science Act.
- Mark Weiner reports: "Micron President and CEO Sanjay Mehrotra, U.S. Senate Majority Leader Charles Schumer, Gov. Kathy Hochul and Onondaga County Executive Ryan McMahon are among hundreds of guests invited by the White House who will be on hand to meet with Biden."
- Bloomberg reports: "Officials have allocated nearly 85% of the Chips Act manufacturing incentives, including [today's Micron allocation]. But they’re just beginning to open applications for R&D funding that some experts say could prove more critical in the long term."
- Additional background to the remarks in earlier bullet.
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