Micron to Invest $100 Billion in Central New York
Micron, a U.S.-based memory and storage manufacturer and the fourth-largest producer of semiconductors in the world is investing up to $100 billion over the next 20 years to construct a semiconductor manufacturing hub in Onondaga County. The project, with the first phase investment of $20 billion planned by the end of this decade, will create nearly 50,000 jobs statewide including 9,000 new high-paying Micron jobs with an average annual salary of over $100,000 and over 40,000 community jobs. When complete, the complex will include the nation's largest clean room space at approximately 2.4 million square feet, the size of nearly 40 football fields, according to a release from Governor Kathy Hochul's office.
The announcement comes as an additional step for Micron in its efforts to establish a leading-edge memory manufacturing business in the U.S. with goals to meet the demand of consumer, industrial, and business products such as automotive and mobile, fueled by the adoption of artificial intelligence and 5G and make the United States more globally competitive, the release stated. The investment adds to New York's already robust semiconductor industry as the state is currently home to 76 semiconductor companies that employ over 34,000 New Yorkers, including global industry leaders like GlobalFoundries, Wolfspeed, onsemi, and IBM, the release stated.
"This historic announcement is a major win for Micron, for New York, and the United States," said Sanjay Mehrotra, CEO of Micron. "The combined efforts at the federal, state and local level paved the way for Micron to realize the largest private investment ever made in New York state history. We are thrilled to make this significant investment in New York, making the Empire State the location of the biggest leading-edge memory site in the U.S."
New York is also home to the world-renowned Albany Nanotech Complex, which is a multibillion-dollar public-private partnership, comprising the most advanced, publicly owned, 300-millimeter semiconductor research and development facility and bringing together premier universities and leading industry players to drive cutting-edge chip development.
"Micron's $100 billion investment in New York marks the start of something transformative in scale and possibility for our state's economic future," said Governor Hochul. "I promised that we would jumpstart the economy by being the most business-friendly and worker-friendly state in the nation, and thanks to our State Green CHIPS legislation, the federal CHIPS, and Science Act, and extraordinary partnerships with business, labor, and local and federal leaders, this project will do exactly that."