Micron Technology announced plans to invest up to $100 billion over the next 20-plus years to construct a new semiconductor fabrication facility in Clay, New York. Micron is planning an investment of $20 billion by the end of this decade.

The investment in the semiconductor fabrication facility will increase domestic supply of memory and create nearly 50,000 New York jobs, including approximately 9,000 high paying Micron jobs. Micron’s investment in Onondaga County, New York, will complement the company’s manufacturing fab in Boise, Idaho.

Micron’s New York fab is part of its strategy to increase American-made DRAM production to 40 percent of the company’s output over the next decade. Site preparation work will start in 2023, construction will begin in 2024 and production output will ramp in the latter half of the decade.

The $5.5 billion in incentives from the state of New York over the life of the project alongside federal grants and tax credits from the CHIPS and Science Act are critical to support hiring and capital investment. In addition, the Town of Clay and Onondaga County are providing key infrastructure support for Micron’s new semiconductor facility.