Only a few weeks after Congress approved $52 billion in additional funding to increase domestic chip manufacturing, Micron announced that it will invest $15 billion to construct a new semiconductor plant in Idaho.
The CHIPS and Science Act, which the Biden administration just authorised, has been the target of a number of multibillion-dollar proposals, the latest of which was announced by Micron. Micron announced last month that it would use the extra subsidies provided by the act to invest $40 billion in US memory fabs by 2030, adding an estimated 40,000 new jobs. Over the next eight years, the new Boise plant is anticipated to generate 17,000 new jobs, including 2,000 Micron jobs.
This is Micron’s first development, and the company claims it will make more investments in the United States. The business worked hard to get the CHIPS and Science Act passed, which offers government financial incentives to businesses that expand their chip manufacturing capabilities in the United States. Additionally, Micron received incentives from the Idaho Legislature, and the state has permanently capped its property tax burden.