Micron Technology Inc (NASDAQ:MU) has announced a $250 million investment to support long-term savings opportunities for children and families through Trump Accounts, also known as 530A Accounts.
The initiative includes an employee matching benefit for contributions of up to $1,000 per child under 18.
Micron will also provide a one-time $250 seed deposit for children with Trump Accounts in areas where it operates in Idaho, New York, Virginia, California, Colorado, Minnesota and Texas.
The company said the investment is expected to support up to one million children and is its largest corporate commitment of this kind. Most of the funding will benefit children and families in communities where Micron operates.
Micron said the programme complements its previously announced investment of more than $200 billion in US memory manufacturing and research and development, which it said is creating more than 90,000 US jobs.
Sanjay Mehrotra, Micron Chairman, President and Chief Executive Officer, said the company believes investing in people is as important as investing in technology. He said the investment is intended to help children build a foundation for future opportunity while supporting the workforce and communities that will shape US semiconductor leadership.
Micron also said it is investing hundreds of millions of dollars across the US to expand access to semiconductor careers through K-12 STEM education, semiconductor curriculum development, AI education, community college and university partnerships, registered apprenticeships and other workforce programmes.