HomeTechnologyMicron Announces Plans to Spend $100 Billion on a Semiconductor Factory in...

Micron Announces Plans to Spend $100 Billion on a Semiconductor Factory in New York

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.

Rent Prices Fall for Third Straight Month

Rent prices for apartments across the United States fell for a third consecutive month in November, data from the real estate platform RealPage has...

Discover Credit Card Spending Shrinks Amid Inflation

Discover Financial Services confirmed that spending on its credit cards has slowed down in recent months as inflation hits a 40-year high and signs...

Euro Zone Retail Sales Slip in October

Euro Zone retail sales were lower than expected in October, data released on Monday by the European Union's statistics office revealed. This indicates a...