The company’s investment in leading-edge memory manufacturing is expected to bolster supply chain resilience while strengthening national security and creating up to 40,000 American jobs
August 9, 2022
BOISE, Idaho—Micron Technology, Inc., reported it is planning to invest $40 billion through the end of the decade to build leading-edge memory manufacturing in multiple phases in the United States. The investment, with anticipated grants and credits made possible by the new CHIPS and Science Act, will enable “the world’s most advanced memory manufacturing” to take place in America, the company said in a release.
Micron’s domestic manufacturing capabilities are intended to help ensure U.S. national security and supply chain resilience as demand for memory products grows in critical market segments. This demand is being fueled by accelerating adoption of artificial intelligence and 5G, particularly in segments like automotive and 5G, the company said.
The announcement, made before Micron executives joined President Joe Biden at the White House for the signing of the CHIPS and Science Act, is a key element of Micron’s $150 billion global investment in manufacturing and R&D over the next decade.
“I thank President Biden, U.S. Secretary of Commerce Gina Raimondo, and the full Administration, as well as members of Congress, for their bipartisan support of the CHIPS and Science Act, which is an important step toward solidifying American semiconductor leadership for decades to come,” said Micron President and CEO Sanjay Mehrotra, in the release. “I am honored to take part in this historic White House bill signing ceremony with them and fellow executives. This legislation will enable Micron to grow domestic production of memory from less than 2 percent to up to 10 percent of the global market in the next decade, making the U.S. home to the most advanced memory manufacturing and R&D in the world.”
The Micron investment is also expected to enrich surrounding communities by bolstering education, workforce training, transportation, and other services. Micron said it is finalizing its specific U.S. expansion plans and will disclose additional details in the coming weeks.
Micron said it expects to begin production in the second half of the decade, ramping overall supply in line with industry demand trends. Its planned investment is expected to create up to 40,000 new American jobs, including approximately 5,000 highly paid technical and operational roles at Micron.