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.

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Senate Majority Leader Chuck Schumer, who was heavily involved in enacting the CHIPS and Science Act, issued a statement about the investment.

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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.

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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.

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The CHIPS and Science Act has also provided funding for Intel, TSMC and Samsung