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Semiconductor giant Micron to invest $15 bn in Idaho / Photo: ALEX WONG - GETTY IMAGES NORTH AMERICA/AFP/File
NYSE - LSE
Semiconductor giant Micron to invest $15 bn in Idaho
Semiconductor giant Micron announced Thursday it will invest $15 billion over the next decade to expand its operations in the US state of Idaho to build memory capacity for automotive and other sectors.
The plan, part of a Micron global investment strategy to invest $150 billion, will create 17,000 new jobs, the Boise, Idaho-based company said.
The initiative, which Micron called the "largest private investment ever made in Idaho," follows a Micron pledge last month to spend $40 billion in "leading-edge memory manufacturing" in the United States.
The project will tap into state funds that are part of the $52 billion to promote production of microchips included in the Chips and Science Act, which President Joe Biden signed into law on August 9.
"Today's announcement by Micron is another big win for America," Biden said Thursday in a statement that also highlighted announcements in recent days from Toyota to ramp up the production of batteries for electric vehicles, as well as plans unveiled by First Solar, Honda and Corning.
"In our future, we will make (electric vehicles), chips, fiber optics and other critical components here in America, and we will have an economy built from the bottom up and middle out," Biden said.
H.Leroy--PS
