Micron to Invest $15 Billion in New Idaho Fab, Bringing Leading-Edge Memory Manufacturing to the US

Rhea-AI Summary

Micron Technology (NASDAQ: MU) announced plans to invest roughly $15 billion through the end of the decade to build a new memory manufacturing fab in Boise, Idaho, marking the first such facility in the U.S. in 20 years. This investment, part of multiple U.S. projects following the CHIPS and Science Act, will create an estimated 17,000 new jobs, including 2,000 direct Micron positions. The fab aims to enhance domestic semiconductor supply for sectors like automotive and data centers, driven by increasing demand for AI and 5G technologies.

Positive

• Investment of $15 billion to build a new fab in Boise, Idaho.
• Creation of approximately 17,000 new American jobs, including 2,000 direct jobs at Micron.
• Enhancement of domestic semiconductor supply for critical sectors like automotive and data centers.
• Partnership with local institutions to expand K-12 STEM education and workforce development.

Negative

• None.

First new memory fab in the U.S. in 20 years will create an estimated 17,000 new American jobs

BOISE, Idaho, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (NASDAQ: MU), one of the world’s largest semiconductor companies and the only U.S.-based manufacturer of memory, today announced plans to invest approximately $15 billion through the end of the decade to construct a new fab for leading-edge memory manufacturing in Boise, Idaho. This will be the first new memory manufacturing fab built in the U.S. in 20 years, ensuring domestic supply of leading-edge memory required for market segments like automotive and data center, fueled by accelerating adoption of artificial intelligence and 5G.

This is the first of Micron’s multiple planned U.S. investments following the passage of the CHIPS and Science Act, and represents the largest private investment ever made in Idaho. Co-locating the new manufacturing fab with Micron’s R&D center at the company’s headquarters will enhance operational efficiency, accelerate technology deployment and improve time to market.

With the anticipated federal grants and credits made possible through the CHIPS and Science Act as well as the incentives provided by the state of Idaho and the support of the governor, the new fab will create over 17,000 new American jobs, including approximately 2,000 direct Micron jobs, by the end of the decade.

“We thank President Biden, Secretary of Commerce Raimondo, Secretary of Defense Austin, the Biden-Harris Administration and Members of Congress for the bipartisan support of the CHIPS and Science Act, which made this investment decision possible,” said Micron President and CEO Sanjay Mehrotra. “Our new leading-edge memory manufacturing fab will fuel U.S. technology leadership, ensuring a reliable domestic supply of semiconductors that is critical to economic and national security. We also appreciate the support of Governor Little and his administration, Idaho state legislators, Mayor McLean and our partners at Idaho Power. 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.”      

As part of the company’s ongoing commitment to invest in the Idaho community and further build our workforce, Micron will expand investment for K-12 STEM education programs and increase focus on reaching underrepresented and rural student populations. Micron will also deepen its partnerships with Idaho institutions, universities with strong research and semiconductor engineering programs, minority serving intuitions (MSIs) and veterans transition programs across the nation. Locally, Micron is also proud to announce a partnership with the College of Western Idaho to lead efforts in delivering key curricula, such as Advanced Mechatronics Engineering Technology, to prepare students for the Micron Technician Apprenticeship Program.    

To support Micron’s growing employee population, the company expects to open a world-class childcare facility operated by our local partners at the Treasure Valley Family YMCA. Located across from Micron’s corporate headquarters, the center will provide STEM based programming and provide easy access for parents to interact with their children during the day and ease the transition for those, especially mothers, returning to the workforce.

Today’s announcement is part of Micron’s intention to invest more than $150 billion globally over the next decade in manufacturing and R&D, including plans to invest $40 billion through the end of this decade to build leading-edge memory manufacturing in multiple phases in the U.S., in line with long-term industry demand trends.

About Micron Technology, Inc. 
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron^® and Crucial^® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com. 
  
© 2022 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. 

Micron Media Relations Contact
Erica Rodriguez Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com

Micron Investor Relations Contact
Farhan Ahmad
Micron Technology, Inc.
+1 (408) 834-1927
farhanahmad@micron.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/29343cd2-960e-4cfd-a5ca-aeb18ca9b578

FAQ

What is Micron Technology's latest investment plan?

Micron Technology plans to invest approximately $15 billion to build a new memory fab in Boise, Idaho, through the end of the decade.

How many jobs will Micron's new fab create?

The new fab is expected to create around 17,000 new jobs, including 2,000 direct positions at Micron.

Why is Micron building a new fab in the U.S.?

Micron's new fab aims to ensure a reliable domestic supply of semiconductors, critical for sectors like automotive and data centers, driven by growing AI and 5G demand.

When will Micron's new fab be operational?

The timeline for the operational launch of the new fab has not been disclosed, but it will unfold over the coming years as part of the investment through the end of the decade.

What is the significance of the CHIPS and Science Act for Micron?

The CHIPS and Science Act provides federal grants and credits, enabling Micron to undertake this significant investment in domestic memory manufacturing.