Deal would create 20,000 new jobs in Idaho and New York Micron Technology on Tuesday received a grant of up to $6.165 billion from the federal CHIPS Act to manufacture semiconductors domestically. The money will be used for construction on Micron plants in New York state and Idaho.

The Department of Commerce has reached a binding agreement with Micron to award the company $6.165 billion in direct funding under the CHIPS and Science Act.

The U.S. Department of Commerce has finalized one of its largest awards to date with memory chipmaker Micron Technology (NASDAQ:MU), the White House said in a statement on Tuesday. The Boise, Idaho-based company had announced a preliminary memorandum of terms with the Department in April for up to ~$6.

U.S. Senator Chuck Schumer announced Monday that Micron will receive $6.1 billion in federal funding to construct a Central New York plant.

The U.S. government will support Micron Technology, America’s largest maker of memory chips. On Tuesday, the Biden administration announced the Commerce Department has awarded $6.165 billion to Micron via direct funding from the Chips and Science Act.

The Micron investment helps bring development and production of advanced memory semiconductor technology to U.S. shores, said Commerce Secretary Gina Raimondo.