President Biden has made a big agreement with Micron Technology. They will spend $6.14 billion on two new chip factories in New York and Idaho. This is part of a larger $100 billion plan by Micron. These new factories will create over 20,000 jobs, help make more chips in the U.S., and increase the country's security.
President Joe Biden announced a basic deal with Micron Technology that could provide up to $6.14 billion in government support for building two new chip factories in New York and Idaho. This plan is helped by the U.S. Commerce Department and follows the 2022 CHIPS and Science Act. The goal is to make more chips in the U.S. and rely less on chips made in other countries.
Micron plans to spend about $100 billion in New York, creating 13,500 jobs, and $25 billion in Idaho, creating 6,500 jobs. President Biden's visit to Syracuse will highlight his efforts to boost American manufacturing and strengthen national security. This visit is also part of his re-election campaign. The plan includes money for training workers and setting up training centers in several states. Micron has also promised to offer affordable childcare for its workers and to protect their rights to organize and bargain collectively.
FAQs
Q1. What is the deal between President Biden and Micron Technology about chip production?
President Biden has reached an agreement with Micron Technology to support the construction of two new chip production facilities in New York and Idaho, with government funding of up to $6.14 billion.
Q2. Why are the new chip production factories important?
These chip production factories are crucial because they help the U.S. make more of its chips. This reduces reliance on foreign chips and boosts national security.
Q3. How many jobs will the new chip production factories create?
The new chip production factories will create about 13,500 jobs in New York and 6,500 jobs in Idaho.
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