Micron Technology may be receiving more financial support during the next couple of years.
Legislation that could lead the Manassas-based company to receive two grants has passed the Virginia House of Delegates and the Senate of Virginia, according to a release from the Prince William Chamber of Commerce.
House Bill 2180 establishes the Semiconductor Manufacturing Grant Fund, which will award grants to eligible companies that produce semiconductors.
To be considered, the businesses must invest $2.98 billion or more in capital investment. They must also offer at least 1,106 new job that have an average wage of $92,000 each year.
If signed by Gov. Ralph Northam, the bill will make Micron Technology eligible to receive a $50 million grant in fiscal 2020 and a $20 million grant in fiscal 2021.
The legislation has received backing from the chamber.
“The total investment and the number of high paying jobs as well as the positive things that Micron has done and will continue to do for our community made this an easy initiative to support,” Director of Communications of Government Affairs Ross Snare said in a release.
Snare also acknowledged state legislators who advocated it.
“On behalf of the Prince William Chamber and the business community I would like to thank the members of our Delegation from both houses — Senators Barker, Black, McPike, Stuart and Surovell as well as Delegates Ayala, Bell, Carroll-Foy, Guzman, Hugo, Roem and Torian — for there support of this game changing legislation,” he said.