The award, which is not yet finalised, will fund chipmaking facilities in New York and Idaho from the CHIPS & Science law, the senator said in a statement.
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“This monumental and historic federal investment will power and propel Micron to bring its transformative $100+ billion four-fab project in central New York to life, creating an estimated 50,000 jobs,” said Senator Schumer.
New York Governor Kathy Hochul said in a statement that the largest private investment in American history is on its way to Central New York.
Micron plans to build a complex of chip plants in New York over the next 20 years, the senator said.
Over the past few months, Biden has announced several funding initiatives, including nearly $20 billion in loans and grants for Intel and a $1.5 billion grant to GlobalFoundries.
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With an outlay of $52.7 billion, the CHIPS Act’s goal is to reduce reliance on China and Taiwan and boost domestic production, as the U.S. share in global semiconductor manufacturing capacity has fallen from 37% in 1990 to 12% in 2020, according to the Semiconductor Industry Association.