Micron Technology Inc. has announced to build a $15 billion chip fabrication plant by the end of the decade. The company will build the new plant near its headquarters in Boise, Idaho. In addition, the Boise plant is likely to create 17,000 new jobs.

Cater rising demand

Micron is one of the largest semiconductor companies across the globe. Importantly, it is the only U.S. based manufacturer of the memory. Furthermore, the company has recently announced to construct a new fab manufacturing plant by the end of this decade with a huge investment of $15 billion. The establishment of this manufacturing facility will ensure domestic supply of leading-edge memory required for market segments. Significantly, these segments include automotive and data center, fueled by accelerating adoption of artificial intelligence and 5G.

CHIPS and Science Act

Micron has planned to build a series of multi-billion projects and Boise plant is the first of them. Moreover, the company has announced to invest $40 billion into U.S. based memory fab plants after the approval of CHIPS and Science Act. Last month, the Biden’s administration approved the highly awaited CHIPS and Science Act. The act will provide a provision of $52 billion in terms of federal grants and credits. “In line with our plans to invest $40 billion domestically through the end of decade to build leading-edge memory manufacturing in multiple phases, we are actively engaged in the final stages of our site selection process for further fab expansion in the U.S.” The company said in their statement.

Employment opportunities

Furthermore, Micron stated that the new fab will create more than 17,000 new jobs by the end of the decade. In addition, they will create another 2,000 direct Micron jobs during the period. Moreover, the company also stated that their research and development center will enhance operational efficiency, accelerate technology deployment and improve time to market. “We are proud of the positive impact this investment will have on the community and our more than 6,000 employees located in Boise, Micron’s headquarters and the epicenter of our innovation for over 40 years.” The company added to their statement.

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