BOISE, Idaho — Micron Technology intends to spend more than $150 billion over the next ten years on memory manufacturing and research and development.
Micron said in a news release Wednesday that the investment will address increasing demand for computer memory. The Boise-based company is one of the world's largest semiconductor manufacturers, and the only manufacturer of computer memory based in the U.S.
Memory is essential to all forms of computing, including growing technologies like 5G smartphones and artificial intelligence.
Micron also said the investment will be global, and will include "potential" expansion of manufacturing in the U.S.
The company did not get into specifics about where and what kind of expansion might take place, but Micron President and CEO Sanjay Mehrotra said the company looks forward to "working with governments around the world, including in the U.S., where CHIPS funding and the FABS Act would open the door to new industry investments, as we consider sites to support future expansion."
Micron called an investment tax credit, in the FABS Act, and funding to support new semiconductor manufacturing capacity, in the CHIPS legislation, "critical to potential expansion of U.S. manufacturing."
Both FABS and CHIPS have bipartisan support in Congress, but as of October 21, neither measure has made it to President Joe Biden's desk.
Mehrotra said one reason that legislation is important is manufacturing costs in the U.S. are 35-45% higher than in other parts of the world with established semiconductor ecosystems, such as Asia.
“The growth of the data economy is driving increased customer demand for memory and storage,” said Micron Executive Vice President of Global Operations Manish Bhatia. “Leading-edge memory manufacturing at scale requires production of advanced semiconductor technology that is pushing the laws of physics, and our markets demand cost-competitive operations. Sustained government support is essential for Micron to ensure a resilient supply chain and reinforce technology leadership for the long term.”
Micron currently has operations in 13 countries. As of August 2020, the company employed more than 6,000 people in Idaho, and was the state's third-largest private employer, according to the Idaho Department of Labor.
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