Last week President Biden visited Syracuse, NY, to do something government officials typically do: tout a massive investment in the local economy. But this was not just any investment – it was $6.1 billion provided by the CHIPS and Science Act to Micron Technology, which plans to spend $100 billion building a manufacturing campus in Syracuse’s northern suburbs, as well as a factory in Boise, Idaho.
The investment will have significant impacts on Syracuse, which is hopeful it will revive the local economy. It has a larger significance as well: it is the latest in a series of federal grants doled out under the Chips Act that has spurred an unexpected investment boom across the US.
