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.

The post Micron Announces Plans to Spend $100 Billion on a Semiconductor Factory in New York appeared first on theprimarymarket.com.

Bloomberg reported earlier this week that Micron is looking for tax breaks for the construction of a new semiconductor production facility in a place called Lockhart, which is located some 30 miles from Austin. According to the application, the project is worth $160 billion, and the starting date is early 2023. The plant would be constructed in eight stages, with the completion date not being set.

However, just because Micron filed the application, it doesn’t mean the project will come to life. As Bloomberg points out, the states’ tax-break program expires at the end of 2022, and Micron wants to keep its options open.

“We have not made any final decisions regarding the location, timing, or scope of any expansion,” Micron spokeswoman Moira Whalen told Bloomberg in an email response. “Filing these applications now allows us to preserve options for potential future expansion needed to meet long-term memory demand.”

The news comes just weeks after Micron promised to make a $40 billion investment until 2030 in order to make semiconductors in the US. This figure will be supplemented with credits from CHIPS and Science Act programs.

The post Micron Applies for Tax Breaks for $160 Billion Semiconductor Plant in Texas appeared first on theprimarymarket.com.

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.

The post Micron Announces Plans to Spend $100 Billion on a Semiconductor Factory in New York appeared first on theprimarymarket.com.

Bloomberg reported earlier this week that Micron is looking for tax breaks for the construction of a new semiconductor production facility in a place called Lockhart, which is located some 30 miles from Austin. According to the application, the project is worth $160 billion, and the starting date is early 2023. The plant would be constructed in eight stages, with the completion date not being set.

However, just because Micron filed the application, it doesn’t mean the project will come to life. As Bloomberg points out, the states’ tax-break program expires at the end of 2022, and Micron wants to keep its options open.

“We have not made any final decisions regarding the location, timing, or scope of any expansion,” Micron spokeswoman Moira Whalen told Bloomberg in an email response. “Filing these applications now allows us to preserve options for potential future expansion needed to meet long-term memory demand.”

The news comes just weeks after Micron promised to make a $40 billion investment until 2030 in order to make semiconductors in the US. This figure will be supplemented with credits from CHIPS and Science Act programs.

The post Micron Applies for Tax Breaks for $160 Billion Semiconductor Plant in Texas appeared first on theprimarymarket.com.