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BumRushDaShow

(129,522 posts) Thu Apr 25, 2024, 09:37 AM Apr 25

Micron gets combined $13.6 billion grant, loan for chip plants

Source: Roll Call

Posted April 25, 2024 at 5:01am

The Biden administration chose Boise, Idaho-based Micron Technology for a $6.1 billion federal grant and $7.5 billion loan to build factories where memory chips would be manufactured, the latest award meant to drive domestic production of vital technology.

Micron will build one factory in Clay, N.Y., and another in Boise using the funds from a program overseen by the Commerce Department, promising to invest as much as $125 billion over the next two decades at both facilities, the department said in a statement made public Thursday.

The grant and loan will “supercharge Micron to bring back leading-edge memory chip manufacturing back to the United States for the first time in 20 years,” Senate Majority Leader Charles E. Schumer, D-N.Y., told reporters Wednesday in a news conference ahead of the official announcement.

The New York factory, located near Syracuse, will revive manufacturing in an area that has faced an economic downturn after refrigeration company Carrier Corp. shuttered operations in 2003, Schumer said. “It’s writing a new chapter for places like Syracuse and upstate New York,” he said. Schumer and President Joe Biden travel to Syracuse on Thursday to announce the awards.

Read more: https://rollcall.com/2024/04/25/micron-gets-combined-13-6-billion-grant-loan-for-chip-plants/

Link to White House FACT SHEET - FACT SHEET: President Biden Announces up to $6.1 Billion Preliminary Agreement with Micron under the CHIPS and Science Act

6 replies

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Highlight:

Micron gets combined $13.6 billion grant, loan for chip plants (Original Post) BumRushDaShow Apr 25 OP

"a $6.1 billion federal grant" speak easy Apr 25 #1

The headline has a comma in it BumRushDaShow Apr 25 #2

I'd have never given that to Idaho. Grins Apr 25 #3

Idaho got it likely because that is the Headquarters for Micron. iluvtennis Apr 25 #4

I'll never understand the logic of a Democratic dropping money bombs on red states. Scruffy1 Apr 25 #6

I hope part of this CHIPS money being handed out comes with strict environmental requirements Cheezoholic Apr 25 #5

speak easy

(9,316 posts)

1. "a $6.1 billion federal grant"

Reply to BumRushDaShow (Original post)

Thu Apr 25, 2024, 10:02 AM

Apr 25

A loan is not a grant.

BumRushDaShow

(129,522 posts)

2. The headline has a comma in it

Reply to speak easy (Reply #1)

Thu Apr 25, 2024, 10:16 AM

Apr 25

Micron gets combined $13.6 billion grant , loan for chip plants

The first sentence of the OP is -

for a $6.1 billion federal grant and $7.5 billion loan

Grins

(7,231 posts)

3. I'd have never given that to Idaho.

Reply to BumRushDaShow (Original post)

Thu Apr 25, 2024, 12:07 PM

Apr 25

Esp. considering the cases before the court involving Idaho, and more, that it is a haven for domestic terrorists! Micron, you went the money - build elsewhere!

Besides, the “patriots “ in Idaho would see this as “Big Government” interfering with “the invisible hand of the free market.” When it suits them…

iluvtennis

(19,874 posts)

4. Idaho got it likely because that is the Headquarters for Micron.

Reply to Grins (Reply #3)

Thu Apr 25, 2024, 12:10 PM

Apr 25

But I agree with you, some more diverse place would have been great.

Scruffy1

(3,257 posts)

6. I'll never understand the logic of a Democratic dropping money bombs on red states.

Reply to Grins (Reply #3)

Thu Apr 25, 2024, 04:49 PM

Apr 25

Most of the red states are on federal welfare including Texas which gets over 60 billion just in direct payments than it pays in income taxes. That does not include all the federal programs that benefit the people like SNAP and Wick. Maybe there were no other options that were viable. When are they going to learn to quit feeding the monster? When The R's took over in the 80's they actually gave incentives for companies to move to red states. Of course the companies mostly failed after relocation because they were poorly managed and couldn't get enough of the highly educated and trained that they needed. No matter how much you feed they will be shit throwing monkeys bragging bout being "self made"

Cheezoholic

(2,033 posts)

5. I hope part of this CHIPS money being handed out comes with strict environmental requirements

Reply to BumRushDaShow (Original post)

Thu Apr 25, 2024, 02:48 PM

Apr 25

or at least a proportional amount of the money must be used to ensure there is little to no environmental impacts. And if so those environmental impact regulations must be followed in perpetuity. Making these semi conductors is a dirty, water intensive business. There's too much money involved in the CHIPS act and a horrible history of this country handing money to big business in exchange for jobs with hollow promises attached.
Sorry, I don't trust big money no matter where it comes from.

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