Michigan works to land mammoth $55B microchip project

[DetroitMan]

Michigan works to land mammoth $55B microchip project

Western Digital Technologies Inc., the San Jose, Calif.-based producer of memory and storage chips, is considering the development, which could involve several semiconductor manufacturing plants on a 1,300-acre site in Genesee County, sources said. The people spoke on condition of anonymity.

Code-named “Project Grit,” the potential development in Mundy Township near Flint would be the largest economic development project in recent state history, perhaps ever, should it materialize. The project is dependent on billions of dollars in federal CHIPS Act funding as well as a state incentives package. The state and local contributions are expected to total more than $22 billion, sources told Crain’s. That figure includes tax abatements and local incentives. Cash grants from the state are expected to be around $1.5 billion. The CHIPS Act funding would come on top of any state and local funds.

The 10,000 jobs figure includes direct and contract employees. Another 5,000 construction jobs would also come with the project. The company is anticipated to invest between $35 billion and $55 billion over 10 years.

A decision by the Biden administration about funding the project is expected before the presidential election in November. That will trigger a final decision by the company, followed by legislative action for state incentives. Crain's inquired Tuesday with Gov. Gretchen Whitmer's administration and federal officials about the timing of the expected decision.

https://www.crainsdetroit.com/econom...icrochip-plant