US chip maker Micron announced plans on Tuesday to build the “largest semiconductor factory in US history.” The huge factory is being built in the US state of New York, with an investment volume of up to 100 billion dollars. In a first step, investments of up to 20 billion dollars are planned for this decade.
The plant will be built in the community of Clay, north of Syracuse, with a goal to begin construction in 2024, Micron said. The plant could create 50,000 new jobs for New York state, 9,000 of which are in Micron itself. The Idaho-based company cited 20 years or more as the time horizon for the $100 billion investment.
US President Joe Biden welcomed the announcement. “To those who doubted whether the US could dominate the industries of the future, I say this: you should never bet against the American people.” New York Governor Kathy Hochul spoke of a “fourth industrial revolution” and “hope for a better one.” future” for the region.
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Demand for semiconductors surged during the coronavirus pandemic, which – exacerbated by factory closures in China due to lockdowns there – led to global bottlenecks. The US economy, whose share of global semiconductor production had fallen sharply in favor of Asia in recent years, was particularly hard hit.
In August, Biden signed legislation for a comprehensive investment plan aimed at boosting key domestic industries to compete with China. The law also provides $52 billion to boost semiconductor manufacturing in the US.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
