Micron Technology, one of the world’s largest chipmakers, recently announced a plan to invest $100 billion in building a semiconductor facility in New York. According to the company, the project will be completed in the next two decades. The first phase will include a $20 billion investment by 2030.
Detailing the project, Micron said that the New York facility would be the largest of its kind in the United States.
“This historic leading-edge memory megafab in Central New York will deliver benefits beyond the semiconductor industry by strengthening U.S. technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come,” said Micron CEO Sanjay Mehrotra as part of the announcement.
Micron’s semiconductor factory will not only boost the domestic chip supply but will also result in an influx of new jobs. The company claims that the project will create 9,000 “high-paying jobs” at Micron and as many as 50,000 new jobs overall.
The announcement comes less than two months after the CHIPS and Science Act came into effect. The new act promises more than $50 billion in subsidies for projects that would increase semiconductor production in the U.S. and help the domestic chip market be competitive in the international market.