Dive Brief:
- Micron Technology plans to invest up to $2.17 billion to expand and upgrade its semiconductor facility in Manassas, Virginia, Gov. Glenn Youngkin announced last month.
- The project will create 340 jobs and ready the plant to produce dynamic random access memory products.
- The expansion will also address future memory and storage demand needs for the domestic automotive, aerospace defense and industrial markets, the release stated.
Dive Insight:
Micron’s upcoming Manassas project is part of the chipmaker’s years-long plan to invest $3 billion in the plant by 2030. Announced in 2018, the strategy aims to increase memory production and create 1,100 jobs over the next decade.
“Micron's Manassas site manufactures our long-lifecycle products that are built using our mature process technologies, and primarily sold into the automotive, networking and industrial markets,” Micron President and CEO Sanjay Mehrotra said in the 2018 press release. “These products support a diverse set of applications such as industrial automation, drones, the IoT (Internet of Things) and in-vehicle experience applications for automotive.”
The chipmaker is getting help with financing the Manassas plans from both federal and state agencies. Last month, the Department of Commerce proposed up to $275 million in CHIPS and Science Act funding for the Virginia plant. Micron is also set to receive up to $70 million in state incentives, which is pending Virginia legislative approval, according to Youngkin’s release.
“Micron’s investments in domestic semiconductor manufacturing capabilities, supported by the bipartisan CHIPS Act and the incentives offered by the Commonwealth of Virginia and the City of Manassas, will help drive economic growth and ensure that the U.S. remains at the forefront of technological advancements,” Mehrotra said in the state press release.
While the company awaits finalization of the CHIPS funding, the Commerce Department finalized $6.17 billion in funds for its other U.S. facilities last month. The money will go toward two fabrication plants in Clay, New York, and a new chip fab in Boise, Idaho.
