Micron Technology has unveiled plans to invest up to $2.17 billion to expand its manufacturing facility in Manassas, Virginia, creating 340 new jobs.
This initiative will modernize the site to produce state-of-the-art DRAM memory products. It aims to meet growing demand across industries like automotive, aerospace, defense, and industrial manufacturing.
Key goals of the expansion include:
- Enhancing Micron’s expertise in semiconductor production.
- Supporting the rising need for advanced memory and storage solutions.
Micron has been part of the Manassas community for over 20 years and continues to solidify its presence with this significant investment.
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Economic Gains for Virginia
This expansion will create 340 new jobs in the region, according to Virginia Governor Glenn Youngkin.
Additional support includes:
- Up to $70 million in state-approved incentives through the MEI Commission.
- Conditions for the funding include exceeding a $2.1 billion investment and achieving job creation targets, pending General Assembly approval.
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Federal Backing from the CHIPS Act
Micron’s investment aligns with the CHIPS and Science Act, a federal initiative to boost domestic semiconductor production.
Recent highlights include:
- $6.165 billion in direct funding awarded to Micron under the CHIPS Incentives Program.
- Plans to invest $100 billion in New York and $25 billion in Idaho.
These investments aim to increase the US share of advanced memory manufacturing from under 2% today to around 10% by 2035. The broader goal is to reduce reliance on foreign manufacturers and strengthen the US semiconductor industry.
CEO Perspective
Micron President and CEO Sanjay Mehrotra emphasized the importance of domestic manufacturing and innovation.
He said:
“Micron’s investments in semiconductor manufacturing, supported by the bipartisan CHIPS Act and Virginia’s incentives, will drive economic growth and keep the US at the forefront of technological advancements.”
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He highlighted the focus on producing long-lifecycle DRAM products in Virginia to meet the demands of defense, aerospace, automotive, and industrial customers.
Leading the Future of Semiconductors
Micron’s expansion in Virginia marks a significant step toward reshaping the US semiconductor industry. By ramping up production domestically, the company is playing a vital role in boosting the nation’s technological self-sufficiency and global competitiveness.
