Micron Technology Plans $3B Expansion Of Manassas Campus
Semiconductor company Micron Technology plans to invest $3B in its Manassas campus over the next 12 years in what Virginia says is the commonwealth's largest private sector capital investment in modern history.
Gov. Ralph Northam joined Micron Wednesday to announce the major expansion of its Manassas campus that it says will create 1,100 new jobs by 2030.
Multiple other states and countries, including Singapore, competed for the investment before Micron ultimately decided to put the money toward expanding its Manassas campus.
The campus at 9600 Goodwin Drive sits near the intersection of Route 28 and Prince William Parkway, just south of the Manassas mall. It is about 33 miles from D.C. and 20 miles from the nearest Metro station, Vienna/Fairfax-GMU. Micron did not announce the amount of space it would add to the campus footprint, but a spokesperson said the expansion will include the construction of new facilities.
Micron is publicly traded on the Nasdaq under the ticker "MU" and currently has a $60B market cap. The company is headquartered in Boise, Idaho, and has 37 locations across the U.S., Europe and Asia.
The Manassas campus is used for manufacturing semiconductors that are sold into the automotive, networking and industrial markets for applications such as industrial automation and drones. Micron says the $3B investment will focus on increasing the memory production of its technology products.
"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,” Northam said in a release. “This $3B 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."