US finalizes more than $6.1 bln chips subsidy for Micron Technology

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US finalizes more than $6.1 billion chips subsidy for Micron Technology

[ Tue, Dec 10th 2024 ] - Reuters

US finalizes more than $6.1 bln chips subsidy for Micron Technology

^{Published on 2024-12-10 06:22:17 - Reuters}

The U.S. Department of Commerce has finalized a subsidy of more than $6.1 billion for memory chip maker Micron Technology to support the construction of several domestic semiconductor facilities, according to a White House statement on Tuesday.

The U.S. Department of Commerce has finalized a deal to provide Micron Technology with over $61 billion in subsidies to support the construction of new semiconductor factories in New York and Idaho. This initiative is part of the broader CHIPS and Science Act, aimed at boosting domestic semiconductor production to reduce reliance on foreign manufacturing, particularly from Asia. The subsidies will help Micron build facilities that are expected to create thousands of jobs and enhance the U.S. position in the global semiconductor supply chain. The agreement includes direct funding, federal loans, and tax benefits, highlighting the government's commitment to revitalizing American manufacturing and ensuring national security through technological self-sufficiency.

Read the Full Reuters Article at:
[ https://www.reuters.com/technology/us-finalizes-more-than-61-bln-chips-subsidy-micron-technology-2024-12-10/ ]

N@N

US finalizes more than $6.1 bln chips subsidy for Micron Technology