President Biden visited Syracuse on October 27, 2022, with Micron CEO Sanjay Mehrotra, Senate Majority Leader Chuck Schumer, New York Governor Kathy Hochul and other elected officials.
Mandel Ngan/AFP via Getty Images
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Mandel Ngan/AFP via Getty Images
President Biden visited Syracuse on October 27, 2022, with Micron CEO Sanjay Mehrotra, Senate Majority Leader Chuck Schumer, New York Governor Kathy Hochul and other elected officials.
Mandel Ngan/AFP via Getty Images
President Biden is traveling to Syracuse, N.Y., on Thursday to tout $6.1 billion in federal grants for Micron Technology that supporters say could bring an economic boost to the region and significantly boost production American national semiconductor chip company to compete with China.
“It’s the federal government taking the reins, walking the talk when we say we want the future of technology to be ‘Made in America,'” the head of the federal government told reporters. majority in the Senate, Chuck Schumer, D-N.Y. during a conference call before the trip.
Micron plans to invest about $100 billion to build an industrial campus in the northern suburbs of Syracuse. Schumer – who played an integral role in signing the CHIPS and Science Act of 2022 into law as well as directing funding to his home state – said it would be the largest private investment in the New York’s story, and called it “a pretty big comeback.” ” on federal investment. Micron is also building a factory in Boise, Idaho.
The White House said the Idaho plant should be ready to begin production by 2026, followed by the two New York facilities in 2028 and 2029. Locally, they could generate an economic boom, the White House forecasting the creation of 20,000 jobs in the construction and manufacturing industry. as well as tens of thousands of indirect jobs in the regions.
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Other major CHIPS grants have gone to Intel for projects in Arizona, Ohio, New Mexico, and Oregon; TSMC for projects in Arizona; and Samsung for projects in Central Texas.
The 2022 law was largely a response to the 2020 pandemic, during which strained supply chains from China caused chip shortages in the United States. The chips are used in many consumer electronics products, such as smartphones and computers, as well as cars. Global auto production fell 26% in the first nine months of 2021 due to chip shortages, according to a JP Morgan study.
The law also aims to blunt China’s long-term technological and production advantages in the sector, which lawmakers like Schumer say is vital to U.S. security interests.
The White House also announces the creation of new “workforce hubs” designed to find and train future workers to support chip factories, as well as other Biden administration efforts to replace lead pipes In certain regions. These workforce centers will be in Syracuse, as well as Milwaukee, Philadelphia and Detroit.
Politically, Wisconsin, Pennsylvania and Michigan are part of what is known as the “blue wall” for Democrats in that they are considered critical to the party’s chances of winning presidential elections. Hillary Clinton lost all three states to Donald Trump in 2016. Biden won all three states against Trump in 2020, and his campaign is working to win them again to win re-election in November.
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