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Last month, the U.S. Congress seized a historic opportunity to strengthen technology leadership and global competitiveness by passing the CHIPS and Science Act, which President Biden will sign today. As a result of this major legislative milestone, Micron is announcing our commitment to invest $40 billion in leading-edge memory manufacturing through the end of the decade – the largest memory investment ever made in the U.S. And thanks to the anticipated grants and credits made possible by the CHIPS and Science Act, Micron can now move toward this significant, long-term investment plan with confidence.
I commend Congressional leadership for securing bipartisan support of the bill, and congratulate President Biden and his Administration, particularly Secretary Raimondo, who played a key role in getting the bill passed. Their leadership is creating pathways to ensure the U.S. is home to the most innovative, leading-edge memory manufacturing and R&D in the world. The CHIPS and Science Act is an important first step toward strengthening and retaining American technology leadership for decades to come.
Today, only one out of every 50 memory chips is made domestically (and all that domestic production comes from a Micron fab). Our planned investments will provide the capability for the U.S. to produce one out of every ten memory chips within the next decade. This has profound national security implications, as it ensures a secure supply chain and creates a more reliable, dependable supply of semiconductors.
Building new memory manufacturing in the U.S. benefits domestic technology leadership and creates growth across industries and society as a whole. An investment such as this creates thousands of jobs, both inside and outside of technology manufacturing, and leads to broad industry innovation. The investments we are planning in the U.S. will create up to 40,000 new American jobs, including approximately 5,000 highly paid technical and operational roles at Micron. It will bring the most advanced memory to the most sophisticated technology solutions, which will now be proudly labeled “made in America.”
The investments the CHIPS and Science Act makes possible will be a key part of Micron’s base in the U.S. Our corporate headquarters in Boise, Idaho, is the epicenter for our research team and the only DRAM R&D facility in the U.S. We have already invested billions expanding our Manassas, Virginia manufacturing site. We also established an Atlanta Design Center late last year, which will employ a diverse workforce focused on engineering the next generation of memory that will further push the laws of physics.
The manufacturing investments we are planning are necessary to meet long-term market demand for innovative memory solutions and build on decades of Micron’s technology, manufacturing and operational excellence. Soon, the U.S. will once again be home to the world’s most advanced memory manufacturing. I speak for all of us at Micron when I say we are truly thrilled to be part of this new era for U.S. semiconductor manufacturing.