NEW YORK, USA — Micron, one of the world's largest microchip manufacturers, announced Tuesday that it will open a semiconductor factory in upstate New York, pledging to invest up to $100 billion over 20 years and build a factory that can bring 50,000 jobs to the state.

New York, USA — One of the world's largest microchip manufacturers Micron announced Tuesday that it will open a semiconductor factory in north of , New York, pledging to invest up to $100 billion in 20 years and build a factory that can bring 50,000 jobs to the state.

With the help of a generous set of federal, state and local incentives, the company was lured to the Syracuse area, including up to $5.5 billion in state tax credits over 20 years.

Following the New York Senate Majority Leader Charles Schumer urged Micron and the company's CEO Sanjay Merota to consider building a factory in upstate New York. A few months ago, Congress passed the $280 billion Chip and Science Act, which set aside $52 billion to support the semiconductor industry. "It would be impossible to invest this scale in the United States without the strong support of the government and the community."

In addition to the tax credit, New York has pledged $200 million to improve roads and infrastructure, the factory is being built in the suburbs Clay and pledged $100 million to the "Community Welfare" fund. The state will also review the provision of low-cost electricity for operations.

Companies like Micron make small chips that power everything from smartphones to computers to cars. The bill aims to enhance the U.S. competitiveness with China and avoid chip shortages again, like chip shortages that derailed the automotive and tech industries during the pandemic. "Chips are crucial to our economy, and if we lose the ability to make chips in the United States, it will be a serious economic security and national security risk," Schumer said in an interview with AP . "This will be the United States that is probably the most advanced memory chip manufacturing facility in the world. And, it is located in a place that really benefits from it."

Schumer said the company plans to invest $100 billion over the next 20 years and plans to invest $20 billion for the first time at the end of this decade. Schumer said the deal is expected to bring more than 9,000 jobs to Micron, and officials believe it could also bring nearly 40,000 other auxiliary jobs to the region, from suppliers to contractors.

After signing a $280 billion bill last month, President Joe Biden touted New York investment as its valid evidence. "Today is another victory for the United States and another large-scale new investment in the United States stimulated by my economic plan." "The U.S. company Micron invested $20 billion this year and invested up to $100 billion in the CHIPS manufacturing industry in upstate New York over the past 20 years, creating tens of thousands of high-paying jobs. Together, we are building an economy from bottom to top and middle to top, where we lower the cost of our families and realize it in the United States."

Headquartered in Boise, Idaho, Micron owns several chip manufacturing plants around the world, including in Singapore and Taiwan. The company announced in September that it will invest $15 billion at the end of the decade to build a new semiconductor factory in its hometown of Boise , which the chipmaker said will create 17,000 jobs in the U.S.

"It's like the 21st century Erie Canal ," Schumer said of the New York factory. "Just as the original Erie Canal did centuries ago, this will help consolidate our economic growth for decades to come, not only in upstate New York, but in the country, as these chips are crucial to many of our cutting-edge industries."