Governor Ralph Northam announced that Micron Technology, Inc. (NASDAQ:MU) will invest $3 billion to increase memory production at its operation in the City of Manassas, creating 1,100 new jobs by 2030. Virginia successfully secured Micron’s commitment after the company considered multiple other locations around the world. The expansion will position the Manassas site as Micron’s Center of Excellence for long-lifecycle memory and will cement the company’s position as one of Virginia’s largest exporters, as it is expected to increase exports from the Commonwealth by more than $1 billion annually after completion.
As part of the expansion, Micron will establish a global research and development center in Manassas for memory and storage solutions primarily focused on the automotive, industrial and networking markets. The research and development center will include laboratories, test equipment and approximately 100 product engineers focused on applications such as unmanned and autonomous automotive systems, the IoT (Internet of Things), and other industrial and networking applications. Additionally, the company announced that the Micron Foundation, the company’s philanthropic organization, will commit $1 million toward growing the next generation of scientists, engineers and technicians at several Virginia universities and community colleges.
“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. “This $3 billion investment will have a tremendous impact on our economy by creating 1,100 high-demand jobs, and solidifies Micron as one of the Commonwealth’s largest exporters. We thank Micron for choosing to deepen their roots in Virginia and look forward to partnering in their next chapter of major growth.”
Micron Technology is a world leader in innovative memory solutions. Through its global brands — Micron, Crucial® and Ballistix® — its broad portfolio of high-performance memory technologies, including DRAM, NAND, NOR Flash and 3D XPoint™ memory, is transforming how the world uses information. Backed by 40 years of technology leadership, Micron’s memory solutions enable the world’s most innovative computing, consumer, enterprise storage, data center, mobile, embedded, and automotive applications.
“Micron’s planned expansion and unprecedented investment demonstrates the company’s long-term commitment to its workforce, the City of Manassas, and the Commonwealth,” said Secretary of Commerce and Trade Brian Ball. “This tremendous project involves collaboration from state and private-sector partners as well as several of Virginia’s esteemed universities, and its extensive benefits are far-reaching into the future. We are proud to have a company of Micron’s caliber on the Commonwealth’s corporate roster.”
“Micron’s Manassas site manufactures our long-lifecycle products that are built using our mature process technologies, and primarily sold into the automotive, networking and industrial markets,” said Micron President and CEO Sanjay Mehrotra. “These products support a diverse set of applications such as industrial automation, drones, the IoT (Internet of Things) and in-vehicle experience applications for automotive. This business delivers strong profitability and stable, growing free cash flow. Micron is grateful for the extensive engagement of state and local officials since early this year to help bring our Manassas expansion to fruition. We are excited to increase our commitment to the community through the creation of new highly skilled jobs, expanded facilities and education initiatives.”
The Virginia Economic Development Partnership (VEDP) worked with the City of Manassas and the General Assembly’s Major Employment and Investment (MEI) Project Approval Commission to secure the project for Virginia. 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.
“For almost two decades Micron and Manassas have been partners in the manufacturing of semiconductors and community development, as the City was with IBM before them. The significant benefits that the company brings Manassas by virtue of their employment and investment help us make advances in public education, infrastructure development and in maintaining a stable tax rate for all of our citizens,” said Mayor Harry J. Parrish II. “On behalf of our entire community, I am thrilled Micron has chosen to modernize and expand operations here, which will guarantee the relationship continues into the future.”
“I thank Micron Technology for this historic investment in the Commonwealth, which represents a transformational win for the City of Manassas and Virginia,” said Senator Frank Ruff, Chairman, General Assembly’s Major Employment & Investment (MEI) Commission. “Securing projects of this magnitude takes a true team effort, and I’m pleased that the MEI Commission could partner with the Governor’s office, VEDP, the City of Manassas, and Dominion Energy to help ensure Micron chose to reinvest in the Commonwealth.”
“Micron’s decision to plan this major expansion in Virginia is the strongest testament to the Commonwealth’s competitiveness on a global level,” noted Delegate Nick Rush, Vice-Chair of MEI Commission. “I congratulate VEDP, MEI, and the partners that collaborated on this important project, and I am confident that Micron Technology will continue to thrive in the City of Manassas.”
“Congratulations to Micron on the expansion of their operations and the additional jobs it will bring to Virginia’s economy,” said Robert M. Blue, president and CEO of Dominion Energy’s Power Delivery Group. “We value our partnership and we’re proud to be their energy provider.”
“Micron Technologies is not only a global leader in advanced manufacturing, but they also have a proven record of commitment to our community,” said Senator Jeremy McPike. “Micron’s outreach in our schools, through robotic programs, internships, and STEM education, is helping to prepare our kids for the jobs of the future. Today’s announcement will result in 1,100 new high-paying jobs close to home. I look forward to the continued partnership with Micron Technologies and our community in the years to come.”