A Rising Tide Lifts All Boats

Creating a strong business climate in the Commonwealth directly shapes our quality of life. Micron Technology Inc. is just one example of a prosperous company making a significant impact on higher education, job creation and economic expansion in Virginia.

This week, Micron opened a $750,000 semiconductor processing laboratory at Virginia Tech's College of Engineering- improving faculty research on semiconductor technology and expanding educational opportunities. Tech is now offering a new microelectonic engineering minor and Micron give college scholarships to encourage more students to pursue engineering degrees. As the world flattens before our eyes, it is imperative that we provide the opportunities for young people to study science, technology and engineering at state-of-the-art facilities.

Micron's contributions to Virginia extend beyond the halls of academia. An article in the Washington Post reports on Micron's multiplying effect on our economy:

An examination of Micron's $3.5 billion plant expansion in Manassas shows how the decisions of one company have helped fuel Washington's economic boom and drive the creation of 242,000 new jobs in the past five years. While not always visible, the collective impact is far-reaching, having buoyed the housing market and reshaped the economy as it stretches further into the suburbs.

"Micron is a foundation industry that has a multiplying effect on the economy," said Martin J. Briley, executive director of Prince William County's Department of Economic Development. "It's been a magnet," he explained, for people, other businesses and development.

Each dollar spent by Micron means an additional 55 to 58 cents for professionals, retailers and contractors in Prince William County, the [George Mason] study estimated, and a full dollar for the state of Virginia.

Read more about the Micron/ Virginia Tech chip lab and Micron's multiplying effect.

The Virginia Research and Technology Commission (VRTAC) stated in its 2005 report, "Innovation through science and engineering is increasingly the main driver of economic growth." This is exactly what we see happening with the Micron example. Currently, the U.S. graduates 50,000 engineers annually. Meanwhile, India and China graduate 180,000 and 200,000 respectively. We must increase the number of engineers in order to remain competitive in a global economy - and the Micron/ Virginia Tech partnership will help in this cause. With some of the best engineering schools in the country - we must continue to expand these partnerships to help fuel economic growth.