U.S. Finalizes More Than $6 Billion Micron Subsidy For Semiconductor Facilities

The U.S. Department of Commerce has finalized a nearly $6 billion subsidy for Micron Technology to support domestic semiconductor facility construction in New York and Idaho. This funding is among the largest under the CHIPS and Science Act and is expected to create over 20,000 jobs by 2030. Micron and the Commerce Department also outlined an additional $275 million investment to expand the company's Virginia plant, which produces chips for automotive and defense markets. The Biden administration's focus on domestic chip production aims to reduce reliance on China and Taiwan.