With a broader aim to expand its US operations, Micron Technology has planned a $2.17 billion investment for its semiconductor facility in Virginia to boost DRAM production.
Micron Technology, a global provider of memory, storage, and semiconductor solutions, has announced plans to invest up to $2.17 billion to expand and modernise its semiconductor facility in Manassas, Virginia, the United States.
The expansion, which creates 340 new jobs, will prepare the plant to manufacture dynamic random-access memory (DRAM) products. This move aims to meet the increasing demand for memory and storage solutions, particularly for the automotive, aerospace, defence, and industrial sectors.
The Virginia plant primarily produces long-lifecycle products using mature process technologies, serving industries like automotive, industrial automation, drones, and the Internet of Things (IoT).
According to Manufacturing Dive, this investment is part of a broader strategy by Micron to inject $3 billion into the Manassas site by 2030, a plan initially outlined in 2018. The goal is to boost memory production and add 1100 jobs over the next decade.
Micron is receiving financial assistance for the expansion from both federal and state sources. The US Department of Commerce has proposed up to $275 million in funding through the CHIPS and Science Act, while the state of Virginia has approved up to $70 million in incentives, pending legislative approval.
Micron’s President and CEO, Sanjay Mehrotra, highlighted that these investments, supported by the bipartisan CHIPS Act, will strengthen the US’s position in technological innovation and economic growth.
In addition to the Virginia project, the Department of Commerce recently allocated $6.17 billion in funding for Micron’s other US manufacturing sites, including new facilities in Clay, New York, and Boise, Idaho.
