For Immediate Release - 8/11/2022
Counties Applaud Bills Aimed At Increasing Local Chip Manufacturing
Today, Governor Hochul signed first-in-the-nation legislation aimed at bolstering New York's semiconductor industry. The legislation builds on the federal CHIPS and Science Act of 2022, which was signed into law by President Biden earlier this week and includes a $52 billion investment in American-made semiconductor industry.
Coupled together, the state and federal actions will position New York State to conform to the requirements of the federal program, enhancing the state's ability to attract new employers.
New York's Green CHIPS law ensures:
- At least 500 new jobs and at least $3 billion in qualified investment over a 10-year term. Projects in good standing can then enter a second 10-year term with at least 500 more new jobs and $3 billion more in qualified investment above and beyond the first phase.
- An approved clean energy plan that mitigates the project's GHG emissions and other environmental impacts.
- Significant investment in workforce and community development, including training and education benefits and programs to expand employment opportunity for economically disadvantaged individuals.
- Prevailing wage rates for project construction.
- Job creation and investment milestones must be met before claiming any tax credits, in line with the Excelsior Tax Credit Program's pay-for-performance model.
Marte Sauerbrey, President of the New York State Association of Counties said, “The last several years have exposed how vulnerable our economy is to supply chain shocks and proven why we must do everything we can to bring these manufacturing jobs back to our local communities. The legislation signed by Governor Hochul today will help cement New York State's position as the national leader in this 21st century industry and revitalize communities across upstate New York.”
Stephen Acquario, Executive Director of the New York State Association of Counties said, “Counties applaud Governor Hochul, Senator Cooney, and Assemblyman Stirpe for their leadership in advancing this important legislation to attract more semiconductor businesses to New York State. This is a major investment in upstate New York. It provides a critical lifeline of economic opportunity for upstate New York immediately and for future generations. New York is already well established as a leader in the nanotech industry and this legislation will put communities across the state in an even stronger position to benefit from new federal investments in this job-creating industry.”
Shelley Stein, Genesee County Legislative Chairwoman said, “Genesee County and our Economic Development Center are very excited to celebrate the CHIPS and Science Act announcement today in LeRoy, NY. The STAMP campus, the state's largest shovel ready advanced manufacturing campus, is ready to welcome chip makers in Genesee County. Our location, close to water and low-cost electricity, coupled with a high quality of life, makes Genesee County highly attractive. We appreciate the determination of Senator Schumer to make this onshoring of chips manufacturing a reality.”
Media Contact: Mark LaVigne | MLavigne@nysac.org | 518-465-1473 x206