Schumer Announces Micron’s Historic $6.1 Billion Award Is Signed—Securing Billions From Bipartisan CHIPS & Science Law For Central NY And Idaho; Micron Launches An Additional Multi-Billion Expansion In Virginia Supported By CHIPS

Washington, DC. - U.S. Senate Majority Leader Chuck Schumer today announced Micron and the Commerce Department have finalized a CHIPS agreement for up to $6.1 billion from the bipartisan CHIPS & Science Law, supporting Micron’s planned landmark $100+ billion public-private investment in New York over the next two decades – as well as Micron’s expansion in Idaho – creating thousands of new good-paying jobs.

Today, Majority Leader Chuck Schumer (D-NY) announced that Micron and the Commerce Department finalized a CHIPS agreement for up to $6.1 billion, which will help Micron’s planned expansion in New York and Idaho and create thousands of good-paying jobs. This agreement is made possible as part of the historic bipartisan CHIPS and Science Law, spearheaded by Leader Schumer.

“This final award locks in the federal investment Micron needs to bring us one step closer to putting shovels in the ground, creating thousands of good-paying jobs, ensuring chips are made in America, and enhancing national security,” said Leader Schumer. “The memory chips Micron makes are the bedrock of America’s future, from AI to EVs to smartphones, as well as our most sensitive defense technology. Today, we make the bold investment needed to bring manufacturing back to the U.S., to strengthen our national security, and to make sure America continues to lead the world.”

Leader Schumer kept up the drumbeat for years, working with colleagues from both parties, and last Congress, the bipartisan CHIPS & Science Act was passed into law, creating the federal incentives needed to spur semiconductor industry investment in the U.S. By creating private-public partnerships, we have helped to strengthen our national security, create tens of thousands of jobs, and shore up our domestic supply chains.

Today’s finalized agreement for federal CHIPS incentives will support the construction of Micron’s first two fabs in Central NY and an expansion in Idaho to help meet soaring demand for the chips Micron makes. The U.S. Department of Commerce will disburse funds in the coming years as Micron meets project milestones agreed to in the final award.

In addition, the Commerce Department also announced today a new Preliminary Memorandum of Terms (PMT) with Micron for up to $275 million in CHIPS incentives to support a planned $2 billion expansion project at its Manassas facility in Virginia, increasing wafer production and creating thousands of new good-paying jobs. 

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