Biden Is Giving $6 Billion to Micron Technology for Semiconductor Production
Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
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
As tensions escalate in the Ukraine conflict, Russian officials accuse the Biden administration of deliberately obstructing peace efforts ahead of President-elect Trump’s return to the White House. With U.S.-supplied weapons striking deep into Russian territory and Putin issuing stark warnings to NATO, the stakes have never been higher. Is Biden’s outgoing administration fueling conflict to hinder Trump’s diplomatic plans? Explore the latest developments and their global implications.
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Biden Announces Deal With Taiwan’s TSMC , to Ramp Up US Chip Production.
On April 8, the White House said that it has reached an agreement with TSMC to help build new semiconductor manufacturing..
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