(The Center Square) – One of the world’s largest semiconductor companies announced a $2.17 billion investment to expand its operations in Virginia.
In addition, Micron Technology, Inc. says the project will create 340 new jobs as part of a modernization of its existing facility in Manassas. The project will enable the facility to produce “state-of-the-present DRAM memories” to “address future demand” in automotive, aerospace, defense and industrial markets.
Gov. Glenn Youngkin applauded the announcement, underscoring the commonwealth’s position as a leader in the industry.
“Micron Technology’s historic $2.17 billion investment in Manassas reinforces Virginia’s position as a leader in advanced semiconductor manufacturing,” said Youngkin. “For more than two decades, Micron has demonstrated that Virginia’s skilled workforce, strategic location, and pro-business climate create an ideal environment for innovation. This expansion strengthens America’s supply chain security while bringing hundreds of new jobs in one of the world’s most critical industries.”
The announcement drew praise from Democratic leaders as well, who credit the “bipartisan” CHIPS and Science Act that was passed in Congress, allowing Micron to receive federal funding.
“I’m thrilled that Micron was selected to receive significant federal funding from the bipartisan CHIPS and Science Act we passed to expand its chips manufacturing facility in Manassas,” said Senator Tim Kaine, D-Va. “Ensuring the U.S. can produce chips is critical for the U.S.’s economic competitiveness and national security. This investment will allow us to make more chips here at home, create jobs, and strengthen our supply chains. I’ll continue working to boost domestic manufacturing across Virginia and our country.”
The company has operated in Manassas for more than two decades, with the expansion to support a “growing demand for memory and storage solutions across multiple industries.”
The Virginia Economic Development Partnership partnered with the city of Manassas and the General Assembly’s Major Employment and Investment Project Approval Commission to secure the latest project.
A press release from Youngkin’s office indicates Micron will be eligible to receive an MEI Commission-approved appropriation of “up to $70 million based on an investment of more than $2.1 billion and the creation of 340 jobs,” which will be subject to approval by the General Assembly.
