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Senate Majority Leader Chuck Schumer announced that a significant deal with Micron Technology is close to finalization. The agreement will secure Micron's plans to build a $100 billion complex of computer chip plants at White Pine Commerce Park in Clay, New York. Schumer expressed confidence that the deal, which includes a package of incentives, will be completed by the end of this week.
The finalized agreement will provide Micron with up to $6.1 billion in federal funding through the CHIPS and Science Act, which Schumer helped pass in 2022. This funding will support the construction of Micron's first two fabs in Central New York, with plans to build up to four manufacturing plants over the next 20 years. Schumer emphasized the importance of this investment, stating, "This final award locks in the federal investment Micron needs for shovels to be able to hit the ground and create thousands of good-paying jobs here in Upstate NY."
Micron's CEO, Sanjay Mehrotra, has been in discussions with Schumer and other officials, including President Joe Biden's administration, to finalize the deal. The project is expected to bring 50,000 jobs to Central New York and includes an expansion of Micron's headquarters in Boise, Idaho. Construction is anticipated to begin in November 2025.
The urgency to finalize the deal has increased following comments from President-elect Donald Trump, who has expressed skepticism about the CHIPS program. Schumer remains optimistic, stating that the deal is "on the finish line" and expects it to be signed soon.