Micron is eligible for a multi-billion dollar grant from the US Department of Commerce. The chipmaker is expected to receive an amount of 6.1 billion dollars, although that amount has not yet been definitively determined. The subsidy is intended for setting up new factories in the US. Micron plans to work on a complex of chip factories in New York state over the next twenty years. “This investment will help Micron realize its more than $100 billion factory project in the heart of New York. This will create an estimated 50,000 jobs,” writes Senator Chuck Jones, according to Reuters.
In the summer of 2022, US President Joe Biden signed the Chips and Science Act. Through this law, the American government wants to reduce American dependence on international chip manufacturers and products. A total of $52.7 billion has been released for the chip sector in the United States. In March, Intel was awarded $8.5 billion and in early April it was announced that TSMC would receive $6.6 billion. Samsung also receives a billion-dollar subsidy. The South Korean manufacturer will receive $6.4 billion, which will be used, among other things, to build factories in Texas.