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Micron's $250 billion megafab to bring hope, jobs to Upstate New York
Liz Claman reports live from Clay, N.Y., where Micron is building a massive $250 billion memory chip fabrication plant.
President Donald Trump on Friday touted Micron Technology's plans to invest $250 billion in U.S. semiconductor manufacturing, including what the company says will become the largest chip manufacturing site in American history.
The Boise, Idaho-based company announced Thursday that it is accelerating its U.S. manufacturing and research investments with a goal of producing 40% of its DRAM memory chips in the United States.
"BIGGER INVESTMENTS JUST KEEP COMING!" Trump wrote on Truth Social, calling the announcement "The Trump Effect."
"Micron is accelerating its U.S. spending to a MASSIVE 250 BILLION DOLLARS to build Memory Chips right here in the U.S.A.," Trump wrote. "For years, the Do Nothing Dumocrats bogged down American Industry with crushing Red Tape, complete Economic Mismanagement, and ridiculous Woke Mandates."
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President Donald Trump touted a planned $250 billion investment by Micron Technology in U.S. semiconductor manufacturing, calling the announcement "The Trump Effect." (Win McNamee/Getty Images, File / Getty Images)
Trump blamed previous Democratic administrations for slowing American manufacturing.
"They stalled everything. Not anymore! We are slashing the Radical Left's Job killing Regulations, and actually GETTING SHOVELS IN THE GROUND. We are reshooting Manufacturing to America, and securing our Supply Chains. This means THOUSANDS of GREAT JOBS for Hardworking Patriots all across our Country. True Economic Security is MADE IN AMERICA."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC. | 979.30 | -12.34 | -1.24% |
The company said it expects to spend more than $250 billion through 2035, driven by surging demand for memory chips in the AI era.
Micron said construction of the New York facility will require thousands of skilled workers, creating opportunities for union trades, apprentices, local training program graduates, specialty contractors and suppliers.
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Sanjay Mehrotra, president and CEO of Micron Technology Inc., speaks to members of the media during a tour of company headquarters in Boise, Idaho. (Kyle Green/Bloomberg via Getty Images, File / Getty Images)
The company said the project, which marked its first concrete pour at the Clay, New York, site on Thursday, is the largest private investment in New York state history and is expected to create 50,000 jobs statewide, including 9,000 direct Micron jobs.
Micron said its semiconductor facilities in Idaho and Virginia, combined with the New York project, are expected to support an additional 90,000 jobs while advancing U.S. economic and national security goals.
Trump also highlighted comments from Micron President and CEO Sanjay Mehrotra, who said the company was increasing its planned U.S. manufacturing and research investment from $200 billion to $250 billion.
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Construction is underway at Micron Technology's semiconductor manufacturing site in Clay, N.Y. The company said the project is expected to become the largest chip manufacturing site in American history. (Micron Technology / Unknown)
"Last week, I shared with President Trump that, because of his leadership and policies, Micron would announce today that we are ahead of schedule and increasing our U.S. manufacturing and R&D investment from $200 billion to $250 billion—creating 100,000 American jobs," Mehrotra said in a statement.
"It’s another example of the Trump effect driving historic private-sector investment, American manufacturing, and job creation," Mehrotra added.
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Micron Technology headquarters in Boise, Idaho. (Jeremy Erickson/Bloomberg via Getty Images, File / Getty Images)
Commerce Secretary Howard Lutnick praised the announcement, saying, "The Trump economic model clearly shows there has never been a better time to invest in the United States."
Kelly Loeffler, Administrator of the U.S. Small Business Administration, said the $250 billion investment is "exactly the kind of bold, American-made commitment that President Trump's agenda was designed to unleash."
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Small Business Administration Administrator Kelly Loeffler said the investment would strengthen domestic semiconductor manufacturing while creating opportunities for small businesses across the country.
FOX Business' Nora Moriarty contributed to this report.
Read Original at Fox Business →