Micron Technology commenced construction on its $100 billion memory manufacturing complex in Onondaga County, New York, on Friday, designating it as the largest semiconductor facility in the United States.

The chipmaker's shares climbed 7.76% on Friday.

According to Micron, the new complex is projected to create 50,000 jobs in New York, with the commencement of production slated for 2030.

The company stated, "As the largest private investment in New York state's history, Micron's Central New York project will host the world's most advanced memory manufacturing and will address the escalating demands from AI systems and devices, which are pivotal to the contemporary economy."

As part of this initiative, Micron intends to allocate $250 million towards workforce development, education, transportation, and housing, facilitated through a community investment framework established with Empire State Development.

Micron's Chairman and CEO, Sanjay Mehrotra, was accompanied at the groundbreaking ceremony by officials from the Trump administration, as well as representatives from New York state and local governments.

Last year, Micron (MU) revealed its strategy to increase its U.S. investments to approximately $150 billion for domestic memory manufacturing and an additional $50 billion for research and development, a move expected to generate an estimated 90,000 direct and indirect jobs.

This broader U.S. expansion vision, totaling roughly $200 billion, encompasses plans for two high-volume fabrication plants in Idaho, up to four high-volume fabs in New York, and the expansion and modernization of its existing manufacturing facility in Virginia.