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Micron Technology Inc. said it plans to invest as much as $100 billion over the next 20 years to build a factory in upstate New York to boost US production of memory chips. 

The announcement on Tuesday represents the largest private investment in New York state history, according to a statement from Boise, Idaho-based Micron. The company said the first phase investment of $20 billion, in Clay, New York, is planned by the end of this decade. 

The New York site, which will generate about 50,000 jobs in the state, including about 9,000 high-paying Micron positions, adds to the company’s previously announced manufacturing facility in Boise. The company said it expects to get $5.5 billion in incentives from the state of New York over the course of the project.

The so-called megafab chip factory complex is part of Micron’s strategy to “gradually increase American-made leading-edge DRAM production to 40% of the company’s global output over the next decade,” Micron said in a statement.

Micron’s commitment comes after the US government passed the CHIPS and Science Act in August, providing $52 billion to boost domestic semiconductor research and development. The bill is at the center of the Biden administration’s effort to reduce dependence on Asian suppliers like Taiwan and South Korea, whose homegrown companies are leading the market, and to address supply-chain disruptions and resulting price hikes for certain goods containing semiconductors. 

Read More about Micron Plan - Bloomberg