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Biden to announce preliminary deal with Micron for up to $6.14 billion in chip grants
Credit: IndiaTimes- Published 2 weeks ago
US President Joe Biden is set to visit Syracuse, New York, to reveal a preliminary deal with Micron Technology for up to $6.14 billion in subsidies for two chip factories, as per the White House. The agreement, part of the 2022 CHIPS and Science Act, supported by the US Commerce Department, will finance facilities in New York and...
Video credit: Wibbitz Top Stories
Published 2 weeks ago - 01:30
Biden Is Giving $6 Billion to Micron Technology for Semiconductor Production
Biden Is Giving $6 Billion , to Micron Technology , for Semiconductor Production.
On April 25, President Biden will travel to Syracuse, NY, to announce over $6 billion in federal grants that his administration is awarding to Micron Technology, NPR reports. .
Senate Majority Leader Chuck Schumer, who was heavily involved in enacting the CHIPS and Science Act, issued a statement about the investment. .
This is the federal government taking back the reins, putting money where its mouth is when we say we want the future of tech to be stamped: 'Made in America.', Senate Majority Leader Chuck Schumer, via statement.
Micron will invest $100 billion of the funds to construct a manufacturing facility in Syracuse.
Schumer referred to the plan as "quite a
great return" on the government's investment.
A factory will also be built in
Boise, Idaho, NPR reports. .
That facility is expected to be ready for production by 2026, while two New York factories will likely be ready by 2028 and 2029.
The White House estimates that
the projects could create 20,000 jobs
in construction and manufacturing.
in addition to "tens of thousands of
indirect jobs in the regions," NPR reports. .
The CHIPS and Science Act has also provided funding for Intel, TSMC and Samsung
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Credit: Wibbitz Top Stories - Published on March 21, 2024