New York pledges $1B on chip research and development in Albany in bid for jobs, federal grants
New York Democrats say the state will spend $1 billion to expand research into chip technology in an effort to turn upstate New York into a global center of semiconductor research and manufacturing
ALBANY, N.Y. (AP) — New York state will spend $1 billion to expand research into chip technology in Albany, the state's capital, with the goal of turning the region into a global center of semiconductor research and manufacturing, Gov. Kathy Hochul announced Monday.
She said the investment will bolster New York's case for federal grants under the CHIPS and Science Act, which will provide more than $52 billion for semiconductor research and manufacturing. It's part of a long-term plan wrest control of the industry away from competitors, particularly China.
“There’s a race for global domination. That’s why we’re here,” Hochul, a Democrat, said at a news conference where she was joined by chip industry leaders and both of New York’s U.S. senators. “And I’m here to announce that New York state will win that race.”
The plan will eventually create 700 new jobs and includes the purchase of a next-generation lithography machine for making computer chips, the officials said in a statement.
