$100 billion in micro-chip investments for central NY could create opportunities for Rochester
CLAY, N.Y. — Micron Technology will spend $100 billion to build a series of massive micro-chip plants and hire 9,000 people in the Syracuse area over the next decade.
The CEO and Gov. Kathy Hochul made the announcement on Tuesday. While the plant won’t be directly in the Rochester region, it could have a ripple effect down the Thruway.
You’ve likely never heard of micron before but many of the electronics you use on a daily basis has their technology inside.
The company makes memory chips and they’re getting a lot of incentives to make them in America, in New York State, and more specifically in central New York.
“This is our chip, tiny but powerful, powerful and at the heart of nearly every computing system from the smart phone in your pocket, to the driver safety system in your car, to the vast data center and communication systems critical to every day life and your national security,” said CEO of Micron Sanjay Mehrotra.
Within the next decade, the company is promising to invest $100 billion to build a chip factory complex the size of 40 football fields in Clay, NY, about 10 minutes outside of Syracuse.
“This is the largest semiconductor facility investment ever made in the United States, right here in central New York,” said Mehrotra.
Many of you might be wondering whether the Finger Lakes region was in the running for this investment.
“I do know there are other semiconductor companies that have looked at the site up here that have gone to other states,” said Bob Duffy, president of the Greater Rochester Chamber of Commerce “And I think the announcement today reinforces that for New York State to land an investment that large with semiconductor industry is terrific. And I think it kind of refute some of the things that people have said about the state and most importantly our higher education system our workforce is up here. It’s a perfect feeding system and support system for these companies.”
The promised first 3,000 jobs are likely at least 3 or 4 years away. Micron says they’ll pay an average of $100,000 dollars. While that may lure some engineering grads down the Thruway, economic development leaders here are also hoping it might lure some possible employers a little closer to home.
“With U of R and RIT and 19 colleges and universities, I think we are primed for a similar investment here,” said Duffy.
Here’s how much taxpayers are chipping in on this massive chip plant. New York State agreed to an incentive package that includes up to $5.5 billion in Excelsior Tax Credits over 20 years.
The state also agreed to $200 million on road and infrastructure improvements around the site but the governor believes that the return on the investment will be a win for New Yorkers.
The company still has to apply for federal grants, there’s a pot of $52 billion of your tax dollars for chip companies that bring jobs back to America and help ease supply chain issues.
There’s payment in lieu of tax agreements and breaks included in the incentive package for taxpayers in Onondaga County, where the plant will be located.