New Green CHIPS Community Fund to invest $500 million in community and workforce development over time
US-based semiconductor manufacturer Micron Technology has revealed plans to build the largest semiconductor fabrication facility in the history of the United States.
The new megafab will increase domestic supply of leading-edge memory and create nearly 50,000 New York jobs, including approximately 9,000 high paying Micron jobs.
Micron intends to invest up to $100 billion over the next 20-plus years to construct a new megafab in Clay, New York, with the first phase investment of $20 billion planned by the end of this decade.
This represents the largest private investment in New York state history. Micron’s investment in Onondaga County, New York, will complement the company’s previously announced high-volume manufacturing fab in Boise, Idaho. Micron will design, build and operate the facility in accordance with its sustainability goals. The site could eventually include four 600,000 square foot cleanrooms, for a total of 2.4 million square feet of cleanroom space – the size of approximately 40 US football fields.
Together, we are leveraging this investment – the largest private-sector investment in state history – to secure our economic future, solidify New York’s standing as a global manufacturing hub, and usher the state into another Industrial Revolution
“I am grateful to President Biden and his Administration for making the CHIPS and Science Act a priority, to Senator Schumer and a bipartisan coalition in Congress for passing the legislation, and to Governor Hochul and County Executive McMahon for the local and state partnerships that made this investment possible. Micron will leverage the diverse, highly educated and skilled talent in New York as we look to build our workforce in the Empire State,” said Micron President and CEO Sanjay Mehrotra.
The $5.5 billion in incentives from the state of New York over the life of the project alongside anticipated federal grants and tax credits from the CHIPS and Science Act are critical to support hiring and capital investment. In addition, the Town of Clay and Onondaga County are providing key infrastructure support for Micron’s new leading-edge semiconductor facility.
The area has much to offer for future Micron employees and families, including urban and outdoor lifestyles, an affordable cost of living and a strong local school system. New York provides partnership opportunities with local K-12 education programs, community colleges and institutions for top engineering and technical talent. The state has a long history of semiconductor development and manufacturing, providing promising opportunities to collaborate on R&D initiatives with organisations like the Albany NanoTech Complex and the U.S. Air Force Research Laboratory.
This project is a dramatic turning point for a region that has faced decades of lost manufacturing jobs
Senator Charles Schumer said: “After years of work, it’s official, Micron is coming to Central New York. With the CHIPS and Science bill, I wrote and championed as the fuse, Micron’s $100 billion investment in Upstate New York will fundamentally transform the region into a global hub for manufacturing and bring tens of thousands of good-paying high-tech and construction jobs to Central New York.”
Schumer continued: “This project is a dramatic turning point for a region that has faced decades of lost manufacturing jobs, and, in combination with New York’s already robust microchip industry from the Hudson Valley, Albany, and the Mohawk Valley to Binghamton, Rochester, and Buffalo, it will put Upstate New York on the map in a way we haven’t seen in generations.”
Micron and the state of New York are also announcing a historic $500 million investment in community and workforce development with a focus on disadvantaged populations over the duration of the project. Micron will invest $250 million over the next 20-plus years as part of the company’s commitment to the Green CHIPS Community Investment Fund. An additional $250 million is expected to be invested, with $100 million from New York and $150 million from local, other state and national partners.
Governor Hochul said: “Micron’s $100 billion investment in New York marks the start of something transformative in scale and possibility for our state’s economic future. I promised that we would jump start the economy by being the most business-friendly and worker-friendly state in the nation, and thanks to our State Green CHIPS legislation, the federal CHIPS and Science Act, and extraordinary partnerships with business, labour, and local and federal leaders, this project will do exactly that.”
Hochul added: “Together, we are leveraging this investment – the largest private-sector investment in state history – to secure our economic future, solidify New York’s standing as a global manufacturing hub, and usher the state into another Industrial Revolution.”