President Joe Biden revealed a preliminary agreement with Micron Technology, securing potential subsidies of up to$6.14 billion for the establishment of two fresh chip manufacturing facilities in New York and Idaho. This accord, overseen by the U.S. Commerce Department in accordance with the 2022 CHIPS and Science Act, seeks to fortify domestic chip production and diminish dependence on overseas suppliers.

Micron's investment is part of a broader strategy to infuse roughly$100 billion into New York, resulting in the creation of 13,500 jobs, and$25 billion into Idaho, fostering 6,500 job opportunities. Biden's trip to Syracuse will showcase his administration's endeavours to reinvigorate American manufacturing and bolster national security while also serving as a platform for his re-election campaign. The initiative encompasses funding for workforce development and the establishment of workforce hubs across multiple states. Micron has pledged to provide its employees with affordable childcare and to safeguard their rights to organize and engage in collective bargaining.