(The Center Square) – One of the world’s largest semiconductor companies announced a $2.17 billion investment to expand its operations in Virginia.
Additionally, Micron Technology says the project will create 340 new jobs as part of the modernization of its existing facility in Manassas. The project will enable the facility to produce “state-of-the-art DRAM memory” to “meet future demands” in the automotive, aerospace, defense and industrial markets.
Governor Glenn Youngkin praised the announcement and emphasized the commonwealth’s position as an industry leader.
“Micron Technology’s historic $2.17 billion investment in Manassas strengthens Virginia’s position as a leader in advanced semiconductor manufacturing,” Youngkin said. “For more than 20 years, Micron has demonstrated that Virginia’s skilled workforce, strategic location, and business-friendly environment create an ideal environment for innovation. It will strengthen safety in the world while creating hundreds of new jobs in one of the world’s most important industries.”
The announcement also drew praise from Democratic leaders who credited the “bipartisan” CHIPS and Science Act passed by Congress, which enabled Micron to receive federal funding.
“We are excited that Micron has been selected to receive significant federal funding from the bipartisan CHIPS and Science Act passed to expand our chip manufacturing facility in Manassas,” said Sen. Tim Kaine, D-Virginia. “There is,” he said. “Enabling the United States to produce chips is critical to our economic competitiveness and national security. With this investment, we will be able to manufacture more chips domestically, create jobs, and increase supply. We will be able to strengthen the chain, and I will continue to work to promote domestic manufacturing in Virginia and across our country.”
The company has been operating in Manassas for more than 20 years, and the expansion is meant to support “the growing demand for memory and storage solutions across multiple industries.”
The Virginia Economic Development Partnership partnered with the City of Manassas and the General Assembly’s Major Jobs and Investment Project Approval Committee to secure the latest project.
According to a press release from Youngkin’s office, Micron is eligible for an allocation of “up to $70 million based on an investment of more than $2.1 billion and the creation of 340 jobs” with the approval of the MEI Commission. Yes, this requires approval from the MEI Committee. General meeting.
