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The
announcement is the latest in a string of investments unveiled
since Biden signed the Chips and Science bill in August that
funded $52 billion to subsidize semiconductor chips
manufacturing and research.
The administration says hefty subsidies for private businesses
are necessary because China and the European Union had been
awarding billions in incentives to chip companies.
Biden has sought to capitalize on the investment announcements
ahead of next month's midterm congressional elections. Last
month, he traveled to Ohio to speak at the site of Intel Corp's
planned $20 billion semiconductor manufacturing facility.
On Tuesday, Micron Technology said it would invest up to $100
billion over the next 20-plus years to build a semiconductor
fabrication facility in New York that is expected to create
nearly 50,000 jobs, with the first phase investment of $20
billion planned this decade.
White House National Economic Director Brian Deese on Twitter
called the Micron investment "a significant win for US economic
& national security" and "part of a deliberate, long term
industrial strategy that will bolster U.S. competitiveness, &
increase our long-term productive capacity."
Biden will visit IBM's Poughkeepsie, New York site home to of
the largest concentrations of quantum computers and will be
joined by Chief Executive Arvind Krishna.
IBM said it plans to make its Poughkeepsie site "a global hub of
the company's quantum computing development, just as it is today
for mainframes." IBM did not provide a detailed breakdown of its
$20 billion investment plans.
IBM said chips funding "will ensure a reliable and secure supply
of next-generation chips for today's computers and artificial
intelligence platforms."
(Reporting by Nandita Bose and David Shepardson; Editing by
Lincoln Feast.)
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