"Building Advanced Semiconductor Ecosystem in the US"… Biden Directly Announces Micron Subsidy

U.S. President Joe Biden directly announced subsidies for Micron Technology, the country's largest memory semiconductor manufacturer, on the 25th (local time).

President Biden visited Syracuse, New York, where Micron is building a new factory.

President Joe Biden [Image source=AP Yonhap News]

He emphasized that Micron is investing $125 billion and the Department of Commerce is providing subsidies worth $6.1 billion to establish new semiconductor factories in New York and Idaho, calling it "the largest private sector investment in the history of the two states. More than 70,000 jobs will be created."

President Biden mentioned that although the U.S. developed advanced semiconductors, the current production volume of advanced semiconductors is "zero." He said, "We will bring advanced semiconductor manufacturing back to the U.S. for the first time in 40 years," adding, "This will transform America's semiconductor industry, a pillar of the modern economy. We will create a new ecosystem for advanced semiconductor research, design, and manufacturing in the U.S."

Regarding his "Invest in America" strategy, he stated, "We have attracted $825 billion in private sector investment, which was previously nonexistent," and noted, "There is a nationwide boom in manufacturing, clean energy, and semiconductors."

On his major achievements such as the Semiconductor Act, he said that his presidential rival, former President Donald Trump, and Republican lawmakers had opposed them, but "after witnessing massive increases in investment and jobs, they have changed their tune and now say it is 'important.' I welcome this shift."

Earlier last month, President Biden visited Arizona, a key battleground state, to directly announce the largest-ever subsidy plan for the domestic semiconductor company Intel. This was to showcase his achievements in investment and job creation for his re-election campaign.

Meanwhile, AP News and others pointed out that Micron's New York factory is not expected to open until 2028, meaning the factory's actual operation will lag behind the November election.

This content was produced with the assistance of AI translation services.