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Senate Majority Leader Chuck Schumer has already shared details about one of the announcements — that a preliminary agreement has been reached to award Micron $6.1 billion in CHIPS and Science Act funding to construct two of its four memory chip fabs in the town of Clay, Onondaga County. A portion of that grant will also support the construction of a fab in Idaho, where Micron's headquarters are located. 

According to senior Biden administration officials, Micron's Idaho fab is already under construction and is scheduled to begin production in 2026. Construction has not yet started in the Syracuse area — that is expected to begin next year — but production at the first central New York fab is scheduled to start in 2028, with the second fab online in 2029.

Micron is the seventh company to be awarded CHIPS and Science Act funding. The law was signed by Biden in 2022 and aims to boost domestic semiconductor chip manufacturing. Schumer, D-N.Y., and former Syracuse-area Congressman John Katko were among the key supporters of the bill in Congress. 

Lael Brainard, director of the National Economic Council, told reporters Wednesday that $29 billion in CHIPS and Science Act grants have been awarded to support $348 billion in private investment. 

"The passage of the CHIPS and Science act marked a call to action to reestablish U.S. semiconductor leadership," Brainard said. "Micron answered the call." 

Micron President and CEO Sanjay Mehrotra lauded Biden, Commerce Secretary Gina Raimondo, Schumer and members of Congress who supported the CHIPS and Science Act. With his company receiving the latest award, he called it a "historic moment for semiconductor manufacturing in the U.S."

"Micron's leading-edge memory is foundational to meeting the growing demands of artificial intelligence, and we are proud to be making significant memory manufacturing investments in the U.S., which will create many high-tech jobs," Mehrotra said. 

With Micron's investment expected to create 9,000 jobs at its central New York fabs and an additional 40,000 construction and supply-chain jobs, Biden will also announce that a workforce hub will be established in upstate New York with a focus on semiconductor manufacturing. 

Schumer said the hub will provide assistance to companies, educational institutions and labor unions to "build a pipeline of workers to fill the thousands of good-paying jobs being created." 

Upstate New York is one of four sites selected to host workforce hubs — Detroit, Milwaukee and Philadelphia are the others. 

Between the CHIPS and Science Act funding and the workforce hub, Schumer is excited for central New York's future. 

"A new era has come," he said. "It's not just a once-in-a-generation investment. It's an investment that's going to stand generation after generation. It's transformational — transformational for Syracuse, for upstate New York and for the nation." 

The event Thursday will be Biden's second official visit to central New York as president. In 2022, he spoke at Onondaga Community College to celebrate Micron's plan to build a massive semiconductor chip manufacturing facility in the Syracuse area.