Schumer announces $6.1 Billion grant toward Micron expansion
Meghan Hendricks | Senior Staff Photographer
The grant, part of the CHIPS and Science Act, provides $4.6 billion toward Micron's semiconductor fabrication facility in Clay, New York. The remaining $1.5 billion dollars will go toward the chip manufacturer's plant in Boise, Idaho.
Support The Daily Orange this holiday season! The money raised between now and the end of the year will go directly toward aiding our students. Donate today.
The United States Department of Commerce has approved a $6.1 billion grant to support Micron Technology’s expansion in New York state, Senate Majority Leader Chuck Schumer confirmed Tuesday.
The funding will jump-start construction on a semiconductor fabrication facility in Clay, New York, giving Micron a head start on its project. The grant, part of the CHIPS and Science Act, provides $4.6 billion for the New York plant, while the remaining funds will go toward a facility in Boise, Idaho.
“It’s a monumental step forward,” Schumer said. “The future of technology is going to be stamped, not only made in America, but made in upstate New York.”
Schumer also said the new plant would create 50,000 jobs across central New York and change the region’s economic landscape. According to a 2022 economic impact study by Regional Economic Models, Inc.,the project will generate an estimated additional $16.7 billion in economic output and $9.6 billion in real Gross Domestic Product per year over its first 31 years of operation.
The multi-billion-dollar investment from the U.S. government will “make Micron a reality,” Schumer said. In 2022, the chip manufacturer committed $100 billion to the plant in Clay and plans to spend about $20 billion by the end of the decade.
In a Tuesday morning statement, New York state Gov. Kathy Hochul said the new facility will allow central New York to produce one-quarter of all microchips across the country. She also said that Interstate 90 would be transformed into a “semiconductor highway” from Albany to Buffalo, echoing Schumer’s promise of long-term economic prosperity.
With the funds, Schumer said “no politician” can prevent Micron’s development in central New York, alleviating concerns over the project’s future under the incoming Trump administration. He also noted that the company will need to meet regular “milestones” regarding hiring and construction progress to continue receiving the grant.
The White House and the DOC have not disclosed the specifics of these milestones, syracuse.com reported.
The plant’s construction is scheduled to begin in November 2025, after environmental review delays pushed back the initial start date, which had been set for last June.
Get the latest Syracuse news delivered right to your inbox.
Subscribe to our newsletter here.
Published on December 10, 2024 at 7:09 pm
Contact Duncan: digreen@syr.edu
