Sunday, May 26

Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants

Linked media – Connected media

And while he is set to promote his efforts to bolster manufacturing in Syracuse, Mr. Biden’s Republican opponent in the 2024 election, former president Donald J. Trump, will be in court just 200 miles southeast, in New York City, as his state criminal trial on charges of falsifying business records continues.

Ramping up domestic chip production is a major goal for Mr. Biden, whose economic policy agenda largely focuses on strengthening American manufacturing and bringing back jobs that have shifted overseas in recent decades. Although semiconductors were invented in America, only about 10 percent of the world’s semiconductors are currently made in the United States, with the bulk manufactured in Asia.

More than a year ago, Micron announced plans to expand its manufacturing footprint in the United States. In October 2022, Micron said it would build a giant manufacturing complex near Syracuse, beginning with a $20 billion project by the end of the decade and spending as much as $100 billion over the next two decades or more. The month before, Micron said it would build a roughly $15 billion factory in its hometown, Boise, Idaho, the first new U.S. memory chip plant in 20 years.

As part of their new announcement, federal officials said that Micron now planned to spend $50 billion to develop the first three plants over the next six years, and that the company would invest up to $125 billion in the United States over the next 20 years or more. The company has said it could build up to four manufacturing plants in New York.

Micron’s award brings the total announced federal grants to more than $29 billion. Earlier this month, U.S. officials awarded Samsung up to $6.4 billion in grants. Other big chipmakers — including Taiwan Semiconductor Manufacturing Company and Intel — have also received awards recently. GlobalFoundries, Microchip Technology and BAE Systems received the first three awards.

Related media – Associated media