Micron pledges $3 billion wafer fab investment

August 30, 2018 //By Peter Clarke
Micron pledges $3 billion wafer fab investment
Memory chip maker Micron Technology Inc. (Boise, Idaho) has said it plans to invest $3 billion at its wafer site in Manassas, Virginia by 2030, about 40 miles west of Washington D.C.

The company said the investment would also create 1,100 jobs and would be in-line with its long-term business model of capital spending in the low thirties of a percent of revenue. The company did not indicate whether the investment would be back- or front-end loaded although, in an undersupplied memory market, it is enjoying sharply increasing revenues at present.

"Micron's Manassas site manufactures our long-lifecycle products that are built using our mature process technologies, and primarily sold into the automotive, networking and industrial markets," said Micron CEO Sanjay Mehrotra, in a statement.

The initial clean room expansion is expected to be completed in the fall of 2019 with production ramp in the first half of 2020. This expansion will add less than 5% to Micron's global clean room space footprint and will primarily support enablement of DRAM and NAND technology transitions as well as modest capacity increase at the site, in-line with growing customer demand for Micron's long-lifecycle products.

As part of this expansion, Micron will also establish a global R&D center in Manassas for the development of memory and storage solutions focused mainly on the automotive, industrial and networking markets. The center will include laboratories, test equipment and a staff of approximately 100 engineers. 

Micron will be eligible to receive a grant of $70 million for site preparation and facility costs, subject to approval by the Virginia General Assembly. Additionally, the City of Manassas and utility partners are providing a broader, comprehensive support package to enable the expansion, including infrastructure upgrades and additional incentives.

Related links and articles:

www.micron.com

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