Today, Micron Technology (MU, Financial), the world's leading manufacturer of state-of-the-art memory components, announced a historic $2.17 billion investment to expand its Manassas, Virginia facility and create 340 new jobs, positioning the region for further growth in the semiconductor industry. Virginia Governor Glenn Youngkin touted the announcement Monday for its importance in U.S. supply chain security and advanced manufacturing.
The expansion will boost Micron's advanced Dynamic Random Access Memory (DRAM) chip production, critical for automotive, aerospace, defense, and industrial applications. The investment underscores Virginia's strategic importance as a location for domestic semiconductor production and is in line with the company's 22-year heritage in the state.
But these dollars came, in part, thanks to federal support through the CHIPS and Science Act, along with state incentivesincluding $70 million approved by the MEI Commission. The Virginia Talent Accelerator Program will also help boost workforce development, which will be the nation's top workforce training initiative in 2024.
Governor Youngkin said, "This expansion doesn't just guarantee Virginia's role in the global semiconductor ecosystem, it is a major economic driver with the creation of jobs and opportunities through technological innovation."
The Manassas expansion is a critical step that addresses the growing global demand for semiconductors while continuing to enable the United States to compete in advanced technology manufacturing. Micron has continued to make investment commitments for the coming industries, leveraging bipartisan support and local partnerships.
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