According to the US-based semiconductor manufacturer, site preparation work for the new fab, which will boost the domestic supply of leading-edge memory and generate close to 50,000 jobs in New York, is expected to commence next year and the construction is slated for 2024
Micron Technology to build $100bn megafab in Central New York. (Credit: Micron Technology, Inc)
Micron Technology will invest up to $100bn in the coming 20-plus years to build a semiconductor fabrication facility in Clay, New York.
The first phase investment of $20bn for the project is planned by the end of 2030.
According to the US-based semiconductor manufacturer, site preparation work for the new fab is anticipated to commence in 2023 and the construction is slated for 2024.
The production output at the New York fabrication facility is expected to be increased after 2025.
Micron Technology said that the semiconductor fabrication facility will boost the domestic supply of leading-edge memory and generate close to 50,000 jobs in New York.
The new megafab in New York is part of Micron Technology’s plans to aims to increase the production of American-made leading-edge DRAM gradually to 40% of the global output of the company over the next ten years.
Micron Technology president and CEO Sanjay Mehrotra said: “Micron will leverage the diverse, highly educated and skilled talent in New York as we look to build our workforce in the Empire State.
“This historic leading-edge memory megafab in Central New York will deliver benefits beyond the semiconductor industry by strengthening U.S. technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come.”
The New York fabrication facility will receive $5.5bn in incentives from the New York state over the course of the project. It will also be supported by anticipated federal grants and tax credits from the CHIPS and Science Act, stated Micron Technology.
Furthermore, the Town of Clay and Onondaga County are said to be providing significant infrastructure support for the semiconductor facility.
Micron Technology plans to construct the semiconductor fab with green infrastructure and sustainable building attributes along with using 100% renewable electricity.
In August this year, the company announced plans to invest $40bn in the US through 2030 with an aim to build factories and memory chips in multiple phases.