Amplify: Biden Administration Announces $6.1 Billion CHIPS Act Grant

May 15

The Biden Administration announced the latest multi-billion-dollar grant under the 2022 CHIPS Act, which was enacted to reinvigorate American manufacturing and re-establish the U.S. as a leading producer of semiconductors. The $6.1 billion award to Micron Technology, is part of President Biden's focus on domestic production of the microchips essential to everything from phones and cars to fighter jets, and that empower virtually every aspect of our daily lives.

Highlights—Biden’s Accomplishments:

Micron will use the grant to build four manufacturing plants in New York State and plans future investments of $125 billion in U.S. production, creating an estimated 50,000 jobs in the Syracuse region.
This announcement follows $23 billion of previous grants to chipmakers such as TSMC, Samsung, Intel and BAE Systems.
The CHIPS Act has already generated $447 billion in private investments across 25 states -- along with 56,000 direct jobs in the semiconductor industry, which will support hundreds of thousands of additional jobs throughout the broader U.S. economy.
Although microchips were invented in the U.S., only about 10% of the world's supply is currently made in America – down from 73% in 1990. The reliance on foreign manufacturers created serious economic and national security risks, as was clear during the pandemic, when overseas production shortages disrupted U.S. industries from automobiles to consumer electronics, including defense production.
Remedying this critical vulnerability is a key priority for the Biden Administration. Rebuilding our manufacturing capabilities creates high-paying jobs in a vital industry, enhances American competitiveness, and ensures U.S. leadership in cutting-edge technologies in computing, medicine, and so much more.