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US approves $6.1b chip subsidy for Micron

The United States Department of Commerce has approved a US$6.1 billion subsidy to help Micron Technology construct semiconductor facilities across the nation.

This decision was confirmed by a White House statement on Tuesday.

This funding, first announced in April, is a significant part of the US Chips and Science Act.

It supports projects in New York and Idaho that aim to create at least 20,000 jobs by 2030.

Additionally, preliminary terms have been set for a US$275 million investment to expand Micron’s manufacturing plant in Manassas, Virginia.

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