Press release
Micron Announces $40 Billion Investment in Leading-Edge Memory Manufacturing in the US
Largest ever investment in U.S. memory manufacturing will create an estimated 40,000 American jobs, strengthen national security and bolster supply chain
About this update from Micron Technology, Inc.
[{"type":"text","content":"Largest ever investment in U.S. memory manufacturing will create an estimated 40,000 American jobs, strengthen national security and bolster supply chain resilience\nBOISE, Idaho, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (NASDAQ: MU), one of the world’s largest semiconductor companies and the only U.S.-based manufacturer of memory, today announced its plans to invest $40 billion through the end of the decade to build leading-edge memory manufacturing in multiple phases in the U.S. With the anticipated grants and credits made possible by the CHIPS and Science Act, this investment will enable the world’s most advanced memory manufacturing in America. Micron expects to begin production in the second half of the decade, ramping overall supply in line with industry demand trends. Micron’s planned investment, the largest in memory manufacturing in U.S. history, will ultimately create up to 40,000 new American jobs including approximately 5,000 highly paid technical and operational roles at Micron. The Micron investment will also enrich surrounding communities by bolstering education, workforce training, transportation and several other services. Micron is finalizing its specific U.S. expansion plans and will share additional details in the coming weeks. Micron’s domestic leading-edge manufacturing capabilities will ensure U.S. national security and supply chain resilience as demand for memory grows in critical market segments like automotive and data center, fueled by accelerating adoption of artificial intelligence and 5G. The announcement, made ahead of Micron executives joining President Joe Biden at the White House for the signing of the momentous CHIPS and Science Act, aligns with the company’s financial plans and 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. I am honored to take part in this historic White House bill signing ceremony with them and fellow executives,” said Micron President and CEO Sanjay Mehrotra. “This legislation will enable Micron to grow domestic prod...