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Micron Technology will receive an additional $6.1 billion from a federal grant to build a computer chip plant complex in Clay, New York — just 10 minutes from Syracuse, syracuse.com reported Wednesday night.

The non-binding preliminary agreement is Micron’s “most important milestone” since 2022, according to syracuse.com, and the semiconductor company could also receive federal loans, Senator Chuck Schumer said.

“It’s historic news, a once in a generation investment,” Schumer told syracuse.com. “It’s one of the largest single direct federal investments ever in New York history. There should be a smile on everyone’s face in Central New York.”

Micron, the world’s fourth-largest producer of semiconductors, announced in February 2023 that construction on the 1,400-acre semiconductor manufacturing plant would begin in 2024. The computer memory and storage supplier initially announced it would invest $100 billion into building its facilities in the Syracuse area in 2022.

“The largest private investment in American history is on its way to Central New York,” Gov. Kathy Hochul said in a statement. “As the first Governor from Upstate New York in more than a century, I’m proud to have helped secure this transformative deal along with our federal partners. We’re going to revitalize our Upstate economy — one microchip at a time.”

The semiconductor plants in Clay will create about 50,000 jobs in Central New York, according to Micron’s website, and will employ 9,000 people. A Regional Economic Models study, which Hochul cited in an October 2022 press release, projected that Micron’s plant would add nearly $10 billion in real domestic product and $16.7 billion in economic output in its first 31 years of operation.

“This multi-billion-dollar commitment by the federal government is not only an investment in Micron, it is an investment in the people of Central New York who will build the fab, fill the jobs, and help secure American dominance in the global semiconductor industry,” State Senator John Mannion wrote in a statement.

Local residents have shared some concerns regarding the semiconductor plant’s environmental impact in terms of water use, emissions and on-site chemicals. Micron says it is committed to sustainability. The company is looking to use 100% renewable electricity and fully recycle water at the plant.

As part of the announcement, President Joe Biden will travel to the Syracuse region on April 25, Bloomberg News reporter Jennifer Jacobs wrote on X, formerly known as Twitter.

Published on April 18, 2024 at 1:56 am

Contact Ahna: arflemin@syr.edu