Micron Technology Inc., Boise, Idaho, will invest $3 billion by 2030 to increase memory production at its plant in Manassas, Virginia, creating about 1100 new jobs over the next decade. These investments are contemplated in Micron’s long-term model to invest capital expenditure in the low thirties as a percent of revenue.
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. A global research development center will include laboratories, test equipment and a staff of approximately 100 engineers.
“Micron’s expansion in the City of Manassas represents one of the largest manufacturing investments in the history of Virginia and will position the Commonwealth as a leader in unmanned systems and Internet of Things,” said Governor Northam.
Micron will be eligible to receive an MEI custom performance 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 substantial infrastructure upgrades and additional incentives.
