April 18, 2024 /SemiMedia/ -- According to reports, Micron Technology will receive more than $6.1 billion in grant subsidies from the U.S. Department of Commerce to help pay for domestic factory projects in the United States. The subsidy has not yet been finalized and is expected to be announced next week.

Micron, like Intel and TSMC, will accept loans as part of its incentive program, and the total value of the loans remains unclear, people familiar with the matter said.

As part of this announcement, US President Biden is scheduled to travel to the Syracuse, New York, area on April 25. Micron Technology, based in Boise, Idaho, is building a factory in Syracuse and near its headquarters.