Winning for the whole of America - Micron invests $15 billion in a new semiconductor manufacturing facility in the U.S.

Micron Technology plans to expand semiconductor production in the United States. For this purpose it will build a new factory.

Here's What We Know

The factory will appear in Boise, Idaho. Micron Technology is ready to invest almost $15 billion in memory chip production. The money will be allocated for 10 years. The new factory will allow to create 17 000 jobs in the country.

U.S. President Joe Biden said that Micron's decision is a victory for the whole America. Head of the White House said that the United States will create a self-sufficient economy with a broad profile. By the way, in summer Biden put his signature under the bill on allocation of nearly $53 billion of subsidies for scientific researches and production of semiconductors.

Getting back to Micron, it's worth noting that the announcement about the new Idaho factory comes amid falling demand and a reduced revenue forecast for the last quarter of 2022. No information on the capacity of the new plant has been released by the company yet. There's also no word on what products will be made there.

Source: Reuters