SCHUMER: IT’S LOCKED IN! ANNOUNCES MICRON’S HISTORIC $6.1 BILLION AWARD FROM HIS BIPARTISAN CHIPS & SCIENCE LAW IS SIGNED, SECURING FED $$$ NEEDED TO BUILD MASSIVE MEMORY CHIP[...]

Schumer, Who Shepherded Bipartisan CHIPS & Science Act Into Law, Went All Out To Land Micron In CNY And Deliver This Historic Investment, Which Now Takes A Monumental Leap Forward To Make It A Reality

Finalized Agreement Ensures Micron Can Tap CHIPS Funding In Coming Years As It Meets Project Milestones For Micron's Plans In Idaho & CNY To Invest Over $100 Billion In NY Over The Next 20+ Years Creating Up To 50,000 Good Paying Jobs - Micron Also Announces New Expansion Plans In Virginia Further Boosting American Semiconductor Production

Schumer: CHIPS Funding Is Locked In For Micron To Build In Upstate NY!

U.S. Senate Majority Leader Chuck Schumer today announced Micron and the Department of Commerce have finalized its CHIPS agreement for up to $6.1 billion in direct funding through the bipartisan CHIPS & Science Law. Schumer said this funding will support Micron's planned landmark $100+ billion public-private investment over the next two decades - the largest private investment in New York's history - as well as Micron's expansion in Idaho - creating thousands of new good paying jobs.

"Micron's CHIPS funding is locked for Upstate NY. $6.1 billion from my bipartisan CHIPS & Science Law is now secured for Micron to build its new, state-of-the-art complex of memory chip fabs in Central NY and Idaho. A historic day and historic agreement for Upstate NY and America. This final award locks in the federal investment Micron needs for shovels to be able to hit the ground and create thousands of good-paying jobs here in Upstate NY," said Senator Schumer. "Without my bipartisan CHIPS & Science Law none of this would be happening and America would be over reliant on semiconductors from overseas. 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. The signed CHIPS award is the start of a new chapter for Central NY and America. Today the feds make the bold investment needed to bring manufacturing back, to strengthen our national security, and to make sure America stays #1, with Micron and Central NY leading the way."

Schumer worked tirelessly for years alongside state and local leaders to advocate to Micron the many benefits of Upstate NY, including reliable and cheap water and power, a highly skilled workforce, top-notch educational and research institutions, and other capabilities to lead in semiconductor manufacturing and innovation. After years of advocacy and Schumer passing the bipartisan CHIPS & Science Law which created the federal programs needed to spur semiconductor industry investment, Micron selected Central New York for its new advanced memory chip fab complex.

Schumer added, "This is one of the largest single direct federal investments in Central NY's history. I wrote the CHIPS & Science Law with Upstate NY as my north star, promising that it would deliver big. Today a promise made is a promise kept."

Over the next 20+ years, Micron plans to build a colossal complex of memory chip plants in Central New York, constructing up to four manufacturing plants at White Pine Commerce Park in Clay, NY. The company's plans call for building a clean-room space that will cover about 2.4 million square feet, the size of almost 40 football fields. Micron is the fourth largest producer of semiconductors in the world and makes memory chips that are essential to technology people use every day, from cellphones to cars, and to critical technologies like AI as well as technologies that are used by our military. Thanks to this CHIPS funding Micron plan's will help the U.S. grow its share of advanced memory manufacturing from less than 2% today to approximately 10% by 2035.

The 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.

Schumer said, "We used to lead the world in making microchips, and thanks to the bipartisan CHIPS & Science Law we are seeing new investments every day to make America a major hub for chip manufacturing once again. The benefits extend across America to every corner of the country, in communities of all shapes and sizes, and I applaud Micron for continuing to lay the foundation for America's technological future."

Schumer said this transformational investment was just what he had envisioned when he championed the bipartisan CHIPS & Science Law. Now, Upstate New York is quickly becoming a global hub for the semiconductor industry thanks to his efforts, boosting the country's national security and global competitiveness. Earlier this fall Schumer also secured a major $825 million federal investment to make Albany NanoTech the first National Semiconductor Technology Center (NSTC) flagship facility and headquarters for extreme ultraviolet (EUV) research and development that is critical to the global chip industry.

Today's award finalizes the second of five agreements in New York for federal CHIPS incentives funded by Schumer's bipartisan CHIPS & Science Law that are spurring private sector investment and bringing manufacturing back to America. Last month, Schumer announced GlobalFoundries finalized its up to $1.5 billion funding agreement for a combined $12.5 billion public-private investment over the next ten plus years to expand and construct a second, new state-of-the-art computer chip fab in Malta, NY.

The senator also announced that Corning Incorporated reached a $32 million CHIPS PMT funding agreement to make a $315 million investment that would increase production at their Canton facility of specialized glass vital for the semiconductor industry. In addition, Edwards Vacuum announced plans to build a new first-of-its-kind-in-the-country $300+ million dry pump manufacturing facility, supported by an $18 million CHIPS PMT funding agreement. Wolfspeed has also reached a $750 million CHIPS PMT funding agreement and plans to tap nearly $1 billion from the CHIPS Investment Tax Credit that Schumer helped create in the bipartisan CHIPS & Science Law to build a new facility in North Carolina and support the expansion of their Silicon Carbide Fabrication Facility at Marcy Nanocenter in Oneida County.

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