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New York State Economic Development Council

Albany,  NY 
United States
http://nylovesnano.com/
  • Booth: 5845

Grow your Semiconductor Business in New York State

Overview

New York Loves Nanotech is a consortium of economic developers, research institutions, and strategic private sector partners whose goal is to accelerate New York's high-tech corridor by attracting investment, enabling the supply chain, developing high-volume manufacturing sites, brokering resources for growth, driving leading edge R&D, marketing assets, and developing robust workforce and entrepreneurial ecosystems.


  Press Releases

  • Landmark Partnership Creates Largest Investment in a Manufacturing Project in New York State History; the New Megafab Will Create Nearly 50,000 Jobs, Plus Thousands of Prevailing Wage Construction Jobs

    With Schumer's Historic Federal CHIPS and Science Act As the Fuse, and Utilizing New York's Innovative Green CHIPS Legislation, Micron Will Build Largest Clean Room in Nation; Agreement Establishes $500 Million Community Fund and Prioritizes Hiring for Disadvantaged Communities, Veterans, MWBE Contractors and Will Make Groundbreaking Commitments to Sustainability

    Reps: This Is Our Erie Canal Moment — Micron's Investment Will Ensure the Future Is Made in America and Will Redefine Upstate NY's Role in the Global Economy for Generations To Come

    Governor Kathy Hochul, U.S. Senate Majority Leader Charles Schumer, Onondaga County Executive Ryan McMahon, and Micron CEO Sanjay Mehrotra announced one of the largest economic development projects in U.S. history — a transformational public-private partnership with Micron Technology to build a cutting-edge semiconductor manufacturing campus in Onondaga County, New York.

    Micron, a U.S.-based memory and storage manufacturer and the fourth-largest producer of semiconductors in the world, will invest up to $100 billion over the next 20-plus years to construct the project, with the first phase investment of $20 billion planned by the end of this decade, creating nearly 50,000 jobs statewide — 9,000 new high-paying Micron jobs with an average annual salary of over $100,000 and over 40,000 community jobs — and create thousands and thousands of prevailing wage construction jobs. When complete, the complex will include the nation's largest clean room space at approximately 2.4 million square feet, the size of nearly 40 football fields.

    This is another step for Micron to establish leading-edge memory manufacturing in the U.S. to meet the demand of consumer, industrial, and business products such as automotive and mobile, fueled by the adoption of artificial intelligence and 5G and make the United States more globally competitive. Modern manufacturing jobs at Micron will include opportunities for New Yorkers of varying educational and professional backgrounds from Central New York and beyond. This historic investment adds to New York's already robust semiconductor industry. New York is currently home to 76 semiconductor companies that employ over 34,000 New Yorkers, including global industry leaders like GlobalFoundries, Wolfspeed, onsemi, and IBM. New York is also home to the world-renowned Albany Nanotech Complex, which is a multibillion-dollar public-private partnership, comprising the most advanced, publicly owned, 300-millimeter semiconductor research and development facility and bringing together premier universities and leading industry players to drive cutting-edge chip development.

    Central New York saw major American manufacturers and thousands of good jobs disappear when Agway Inc., Anaren Microwave, Carrier, Crucible, General Electric, Miller Brewing and General Motors closed their doors. Micron is bringing future-ready manufacturing back to Central New York by building a state-of-the-art memory chip manufacturing campus on 1,400 acres in the White Pine Commerce Park in the Town of Clay, north of Syracuse, creating economic opportunities for generations to come and returning good manufacturing jobs to Upstate New York. Micron will become one of the largest employers in the region, paying nearly double the average wage of Central New York.

    Consistent with New York State's nation-leading Green CHIPS Act, Micron will draw its electricity from 100 percent renewable sources and make far reaching sustainability commitments. Micron will also implement a half-billion-dollar community investment framework to ensure that the project benefits the people and communities of Central New York.

    Governor Kathy 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 jumpstart 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, labor, and local and federal leaders, this project will do exactly that. 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."

    Senate Majority Leader 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. 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. This is our Erie Canal moment. Just as the original Erie Canal did centuries ago, this 21st Century Erie Canal will flow through the heart of Central New York and redefine Upstate New York's place in the global economy for generations to come. Micron's investment will make New York's semiconductor corridor into a major engine powering our economy and will supply 'Made in New York' microchips to everything from electric vehicles, 5G, and defense technology to personal computers and smartphones. Today's announcement is the result of my long fight to bring manufacturing back to Upstate New York. The bottom line is that without the CHIPS and Science legislation, Micron would have decided to build its megafaboverseas. This investment leaves no question that the future of microchip manufacturing will remain not just in this country, but in Syracuse specifically, and that our future will be built in Upstate New York, with Central New York as a global center of the chip industry."

    Onondaga County Executive Ryan McMahon said, "Today's announcement validates what we have known all along — White Pine Business Park is the premier site in the Country for attracting an investment in the semiconductor industry, and we are thrilled to welcome Micron to our community. This is our generation's Erie Canal moment, and my administration is committed to meeting this pivotal and exciting moment in time. We will make sure that every neighborhood in every corner of the County feels part of this historic and transformational project. As important, this is a project that many people felt we weren't worthy of, but at the end of the day the greatest memory technology company in the world chose Onondaga County. Micron is going to invest one-hundred billion dollars to not only solve global demand challenges but to meet national security demands for this country. The decision by Micron to invest in Central New York and solve these problems not only supports our greater strategy for growing our community but validates our undeniable progress. I look forward to a long and successful partnership."

    Micron CEO Sanjay Mehrotra said, "This historic announcement is a major win for Micron, for New York, and the United States. I am grateful for President Biden and his Administration for making the CHIPS and Science Act a priority, to Leader Schumer and a bipartisan coalition in Congress for passing the legislation, and to Governor Hochul and County Executive McMahon for their leadership and partnership. The combined efforts at the federal, state, and local level paved the way for Micron to realize the largest private investment ever made in New York state history. We are thrilled to make this significant investment in New York, making the Empire State the location of the biggest leading-edge memory site in the U.S. We chose this location for many reasons, but most importantly — Central New York offers a rich pool of diverse talent, including communities that traditionally have been underrepresented in technology jobs. This historic leading-edge memory megafab will deliver benefits beyond the semiconductor industry by strengthening U.S. technology leadership, as well as economic and national security, driving American innovation and competitiveness for decades to come."

    Micron will develop a $100 billion semiconductor manufacturing complex over the next 20-plus years in multiple phases, with the first phase investment of $20 billion to planned by the end of this decade. Each phase is expected to include the construction and equipping of four memory fabs. Construction is expected to be pursuant to a project labor agreement, and workers will be paid, at a minimum, federal prevailing wage rates. Micron is also planning to spend 30 percent of its construction budget on work performed by Sociallyand Economically Disadvantaged Individuals, New York State-certified Minority and Women Business Enterprises, and Service-Disabled Veteran Owned Businesses.

    This unprecedented investment is made possible through Schumer's historic,bipartisan CHIPS and Science Act that he led to passage earlier this year. Without this legislation, Micron would have decided to build its megafaboverseas. The bill created an Investment Tax Credit for semiconductor manufacturing facilities and a first-of-its-kind $52 billion in federal incentives to spur American semiconductor research, development, manufacturing, and workforce training to bring these good-paying jobs back from overseas, strengthen national security, and reestablish America's technological leadership. The bill requires recipients of these incentives to make significant worker and community investments that support equitable economic growth. Similarly, under the performance-based incentives through New York State's Green CHIPS program, the project is estimated to result in a total benefit-cost ratio of approximately 20:1, meaning that Micron will directly spend $20 on capital investment, research and development, and salaries and wages for every $1 of support provided by New York State.

    An economic impact study by Regional Economic Models, Inc. (REMI) estimates that the Micron project will generate transformative economic growth for Central New York and New York State. Over the course of the first 31 years of operations, REMI estimates that the project will:

    • Create, on average, nearly 50,000 jobs in New York State per year, including 9,000 jobs directly with the company.
    • Grow New York State's economy significantly, generating an additional $16.7 billion in real (inflation adjusted) economic output, on average per year and $9.6 billion in real Gross Domestic Product (GDP) on average.
    • Provide an estimated annual average of $5.4 billion in real disposable personal income to New York residents.
    • Generate an average annual increase of $556 million in state government revenue, totaling $17.2 billion over the first 31 years of the project, and an average annual increase of $826.1 million in revenue to local governments, totaling $25.6 billion over the same timeframe.
    • Be one of the largest construction projects in North America, with construction spending of $31 billion and 5,600 related construction jobs on average at federal prevailing wage, for the initial 20 years.

    COMMUNITY INVESTMENT COMMITMENT

    Pursuant to the requirements of ESD's Green CHIPS program, and those expected of the federal CHIPs and Science Act, Micron will commit to 20 years' worth of community investments. These investments will be supported by a $500 million Green Chips Community Investment Fund, seeded with contributions of $100 million by ESD, at least $250 million by Micron, and the remainder by local, statewide, and national partners. 

    SUSTAINABILITY HIGHLIGHTS

    In accordance with New York's Green CHIPS program, ESD, and Micron will enter into a Green CHIPS Sustainability Plan to ensure that Micron will utilize 100 percent renewable energy for electricity with preferences for in-state sources. Additionally, all fabs and office buildings will be built to a minimum LEED Gold status, making the project one of the most sustainable chip fabsin the world.

    Empire State Development President, CEO and Commissioner Hope Knight said, "Micron decided on New York State because of the tireless work at every level of government to make our state a place where companies such as Micron want to locate and grow. I want to thank Governor Hochul for her leadership, especially on the passage of the State's Green CHIPS program, and for her advocacy for the passage of the federal CHIPS and Science Act. For decades, we have been slowly regaining ground in the transition from traditional manufacturing to advanced manufacturing, and Micron's decision to locate in the Central New York Region is the momentum we need to succeed."

    President and CEO of CenterState CEO Robert M. Simpson said, "The scale of Micron's semiconductor facility in Central New York is truly without comparison and will put our community at the forefront of semiconductor manufacturing. The investments and jobs that will be created by Micron will transform our community and have economic benefits that ripple across the state. For two decades, the leaders of this community have worked to create the kind of place that could support a project of this scale. I am exceptionally proud that Micron noticed our history of self-led revitalization efforts. Fast, leading-edge memory is critical to the growth of IoT, Smart Cities, 5G, and the UAS sectors, in which we have made targeted regional investments. Micron's presence in Central New York fills a critical gap in our long-term strategy to develop end-to-end solutions for the growing global demand for Smart Systems. I am incredibly proud of the work of our local, state, and federal partners, who teamed up to land this monumentally important project. Our team is ready to continue working with Micron to ensure its long-term success here. Micron, welcome to Central New York."

    State Senator Jeremy Cooney said “Micron’s announcement is a transformational moment for Upstate, NY. Now, we are going to replicate its success to create more job opportunities up and down the thruway corridor. Moreover, this investment proves New York State is competitive with the rest of the nation when attracting advanced manufacturing back to American shores. If you want to re-populate upstate cities, then we need good paying jobs; this is a giant step forward. Thank you to President Biden, U.S. Senate Majority Leader Schumer, and Governor Hochul for their leadership and commitment to rebuilding the upstate economy.”

    To attract this transformational, multibillion-dollar investment to New York, ESD has offered a package of performance-based incentives up to $5.5 billion in Green CHIPS Excelsior tax credits over two phases over 20 years. These targeted incentives are directly tied to Micron creating 9,000 new jobs, investing $100 billion, and meeting the Green CHIPS community benefits package and sustainability standards. The agreement also includes a commitment by New York State to invest $200 million for necessary road and other infrastructure improvements surrounding the campus, and $100 million in funding for community benefits as part of the $500 million Green CHIPS Community Fund. In addition, the New York Power Authority (NYPA) Board of Trustees will review a power allocation award from NYPA's low-cost ReCharge NY power program at a future public meeting.

    The Onondaga County Industrial Development Agency and Micron will enter into a 49-year PILOT (Payment in Lieu of Taxes) agreement and abatement of state and local sales tax on construction expenses. The Onondaga County Department of Water and Environment Protection and the Onondaga County Water Authority will make necessary water and wastewater infrastructure improvements over the project lifecycle to support the project and surrounding community.

    Onondaga County will provide:

    • A $5 million façade grant.
    • A $10 million investment in conjunction with Syracuse University to establish a semiconductor research and development initiative to be located at the Syracuse Center of Excellence.
    • A $5 million workforce sustainability grant to be disbursed over ten years to help fund local skills development for Onondaga County residents, in partnership with local institutions such as Onondaga Community College.
    • A $5 million workforce attraction grant to assist with hiring during the initial project ramp-up.

    Semiconductors are vital to the nation's economic strength, serving as the brains of modern electronics, and enabling technologies critical to U.S. economic growth, national security, and global competitiveness. The industry directly employs over 277,000 people in the U.S. and supports more than 1.8 million additional domestic jobs. Semiconductors are a top five U.S. export, and the industry is the number one contributor to labor productivity, supporting improvements to the effectiveness and efficiency of virtually every economic sector — from farming to manufacturing.

    Supply chain issues and a decline the United States' share of global chip production are causing undue hardships to every aspect of the economy. This erosion of U.S. chip production capacity puts the nation at a strategic disadvantage in several critical areas, including national security, technological innovation, and economic growth and independence. Because more than 300 industries use chips — from cars to cellphones — their scarcity drives up prices of other consumer goods. Senator Charles Schumer was instrumental in the passage of the bipartisan CHIPs and Science Act of 2022, which is a key priority of the Biden-Harris agenda and designed to create jobs and boost economic growth by investing in American semiconductor manufacturing. Micron's new facility will position New York State as a national leader in reshoring vital semiconductor jobs to the U.S., a top priority of Governor Kathy Hochul's agenda.

  • British-Based Leader in Semiconductor Industry Will Build 240,000 Square-Foot Facility, Create 600 Jobs at Western New York's STAMP Science & Technology Advanced Manufacturing Park

    Investment Builds on Historic $100 Billion Commitment from Micron Technology, Further Strengthens Upstate New York's Advanced Manufacturing And Semiconductor Corridor

    Also Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy

    Governor Kathy Hochul and U.S. Senate Majority Leader Charles Schumer announced that Edwards Vacuum, a British-based world leader in vacuum and abatement equipment in the semiconductor industry and part of the Atlas Copco Group, has chosen the Western New York Science & Technology Advanced Manufacturing Park located in Genesee County, as the location for their new $319 million, U.S. dry pump manufacturing facility. The dry pump technology that will be produced at the new facility is a vital component to controlling the highly sensitive environment of semiconductor manufacturing processes. Phase One of Edwards Vacuum's 240,000 square-foot campus include manufacturing, warehouse and administration. This new commitment from a global leader in the semiconductor manufacturing supply chain to invest in New York State builds on the announcement that Micron is investing an unprecedented $100 billion in Central New York.

    "This major investment from Edwards Vacuum builds on our momentum to secure New York as a leader in semiconductor manufacturing," Governor Hochul said. "On the heels of Micron's $100 billion commitment to Central New York, as well as New York's Green CHIPS legislation and the federal CHIPS and Science Act, we are better positioned than ever to make New York a global hub for advanced manufacturing and attract the jobs of the future. I am thrilled to welcome Edwards Vacuum to Genesee County and look forward to working with them, as well as our local, state, and federal partners, as they make New York their home."

    "The CHIPS And Science Act delivers for Upstate New York again," said Senate Majority Leader Charles Schumer. "I am thrilled to announce Edwards Vacuum, a major player in semiconductor supply chain, will soon power Genesee County with an over $300 million plant and 600 good-paying jobs! From Micron's major investment in Central NY and Wolfspeed's new fab in Marcy, to onsemi soon beginning in the Hudson Valley and GlobalFoundries building a new fab in the Capital Region, and now Edward's supercharging our semiconductor supply chain at Western New York's STAMP site, Upstate is becoming the global hub for the chip industry. I told Edwards Vacuum's top brass last month there was no better site than STAMP to locate a new plant and I'm glad they heeded my call. With my CHIPS and Science Act as the lighting rod, we are now seeing energy flow into Upstate's manufacturing sector like never before, and this investment will further cement that the future of microchips will be built with American made products, crafted by New York workers."

    Edwards' Semiconductor business President Kate Wilson, said, "I am delighted that we are announcing this new facility in the state of New York. Against a backdrop of growing demand, clearly showing a greater need for investment in manufacturing capabilities that are located close to our customers, we continue to commit significant investment in our operational footprint. This is critical to ensure we retain our position as the vacuum and abatement partner of choice to the global semiconductor industry."

    Edwards Vacuum will provide internal training and education, allowing every employee to explore and advance their career opportunities. Additionally, Edwards is committed to recruiting entry-level employees from disadvantaged communities and partnering with existing community-based recruitment and training programs, to provide both soft skills and technical skills that will provide employment opportunities that have not been available in those communities previously.

    The Western New York Science & Technology Advanced Manufacturing Park (STAMP) is a 1,250-acre mega site at the forefront of green manufacturing growth in New York. Developed to provide high-capacity, low-cost renewable electricity in a strategic location in the Buffalo-Rochester Tech Corridor, STAMP has attracted over $500 million of investment by innovative companies. With over 500 available buildable acres on-site, 1.1 million people within 30 miles, and 30,000 annually enrolled engineering students at nearby colleges and universities, STAMP is positioned to accelerate New York's growing semiconductor manufacturing, advanced manufacturing, and renewables manufacturing industries.

    Empire State Development President, CEO and Commissioner Hope Knight said, "Attracting supply chain partners in the semiconductor industry is key building a stronger ecosystem in New York State. Edwards Vacuum's choice of STAMP for its new facility further cements New York State as a leader in the semiconductor industry."

    New York Power Authority Interim President and CEO Justin E. Driscoll said, "Edwards Vacuum's STAMP investment is a testament to New York's emergence as a global leader in semiconductor manufacturing. Securing reliable supply chain partners is critical to the semiconductor industry, and projects like this showcase the unique attributes of New York that will help the industry grow here."

    As part of the agreement with Edwards Vacuum, ESD has offered up to $21 million in a combination of performance-based Excelsior Jobs Tax Credits, Investment Tax Credits and an additional $1 million to support Workforce Development and the training of a Diverse and Inclusive Workforce in exchange for 600 new full-time jobs at the location Additionally, the New York Power Authority Board of Trustees will review an application for low-cost Niagara hydropower at a future public meeting.

    Edwards Vacuum is anticipated to apply for agreements at a later date with the Genesee County Economic Development Center to support the company's investment at STAMP through property, sales, and mortgage tax assistance. The request would support the largest workforce and capital investment proposed by any company at a GCEDC-developed site.

    Last month, Senator Schumer personally called Edwards Vacuum President, Geert Follens, to urge the global semiconductor supply chain company to expand in Upstate New York. Senator Schumer's bipartisan CHIPS and Science Act, creates an Investment Tax Credit for semiconductor manufacturing facilities and supply chain partners such as Edwards Vacuum as well as a first of its kind $52 billion in federal incentives to spur American semiconductor research, development, manufacturing, and workforce training to bring good-paying jobs back from overseas, strengthen national security, and reestablish America's technological leadership. The bill requires recipients of these incentives to make significant worker and community investments that support equitable economic growth. Edwards Vacuum is expected to also apply for incentives under the CHIPS and Science Act. Schumer has long supported STAMP's development and to attract new semiconductor and advanced manufacturing companies to locate at STAMP. Schumer said these new federal and state investments are creating a new 'Erie Canal' across upstate New York by attracting thousands of new jobs in the semiconductor industry from the Hudson Valley to Western New York's STAMP.

    Semiconductors, and their supply chain partners, are vital to the nation's economic strength, serving as the brains of modern electronics, and enabling technologies critical to U.S. economic growth, national security, and global competitiveness. The industry directly employs over 277,000 people in the U.S. and supports more than 1.8 million additional domestic jobs. Semiconductors are a top five U.S. export, and the industry is the number one contributor to labor productivity, supporting improvements to the effectiveness and efficiency of virtually every economic sector — from farming to manufacturing. Earlier this year, Governor Hochul signed New York's nation-leading Green CHIPS legislation into law to attract top semiconductor manufacturing businesses to the state and secure commitments to good-paying jobs, sustainability, and community benefits.

    Supply chain issues and a decline in the United States' share of global chip production are causing undue hardships to every aspect of the economy. This erosion of U.S. chip production capacity puts the nation at a strategic disadvantage in several critical areas, including national security, technological innovation, and economic growth and independence. Because more than 300 industries use chips — from cars to cellphones — their scarcity drives up prices of other consumer goods. Edwards Vacuum's new facility will position New York State as a national leader in reshoring vital semiconductor jobs to the U.S.

    Representative Joe Morelle said, "This is exactly the type of investment the federal CHIPS and Science Act I helped pass was intended to facilitate. We're taking concrete steps to strengthen our supply chain, enhance manufacturing, and grow our local economy—bringing good-paying jobs to our community. I have long been a supporter of the STAMP facility, and I'm grateful to Governor Hochul, Senator Schumer, and my partners in government for their commitment to investing in the future of our community."

    Genesee County Legislature Chair Shelley Stein said, "We are so proud that STAMP will be the location of the largest economic development investment in the history of Genesee County. On behalf of my colleagues in the Genesee County Legislature we welcome Edwards Vacuum to our community and look forward to their success here and the career opportunities they will provide for our hard-working residents. This announcement demonstrates the diligent focus of Genesee County to plan, prepare and welcome 21st century manufacturing to our county."

    Town of Alabama Supervisor Rob Crossen said, "Our shared vision through the development of STAMP is to play a role in bringing new jobs and investments to Genesee County and to improve the quality of life for our residents. The latter has begun through enhanced infrastructure improvements, especially as it pertains to water services, and we're pleased that STAMP and our community is attracting advanced manufacturing companies and good paying jobs."

    Finger Lakes Regional Economic Development Council Co-Chairs, Greater Rochester Chamber of Commerce President and CEO Bob Duffy and SUNY Geneseo President Denise Battles said, "We congratulate Edwards Vacuum on this incredible project, and welcome them to the state-of-the-art Western NY Science, Technology and Advanced Manufacturing Park in Genesee County. These top-quality jobs will help to energize the regional economy, furthering its reputation as the center of technology and progress.

    Steve Hyde, Genesee County Economic Development Center President & CEO, said, "There is a saying that economic development is a marathon and not a sprint and that has been our approach to STAMP ever since it was a concept on paper over a decade ago. That's why it is so gratifying to see how that steady and purposeful approach is resulting in a significant return on the investment that has been made through the years by our public and private sector partners and in particular by Senator Schumer and Governor Hochul by this announcement today. This announcement shows that STAMP and our region are the ideal location for semiconductor industry growth."

    Greater Rochester Enterprise President and CEO Matt Hurlbutt said, "Edwards Vacuum, an innovative vacuum equipment manufacturer that serves the semiconductor industry, is expanding at the Western New York Science and Technology Advanced Manufacturing Park in the Greater Rochester, NY region to capitalize on this mega site's unique infrastructure, which includes reliable, low-cost hydropower and unlimited water supply. Rochester, NY is also attractive because of the concentration of highly skilled talent with mechanical and electrical engineering expertise and regional workforce development partners who offer stackable credential programs and certificate programs to train Edward Vacuum's future workforce. GRE connected Edwards Vacuum to numerous economic development resources to support this expansion in Rochester and will continue to support the company as this project unfolds."

    Paul Brown, President of the Buffalo and Eric County Construction Trades Council said, "Governor Hochul continues to deliver on high scale projects that will result in union construction jobs for our highly trained and skilled trades workers. New York State's investment at STAMP and Senator Schumer's advocacy to bring advanced manufacturing companies there will transform the economic landscape across western New York for generations to come."

    This major investment adds to New York's already robust semiconductor industry. In addition to Micron's major $100 billion investment in Central New York, New York has multiple global industry chip leaders like GlobalFoundries, Wolfspeed, onsemi, and IBM. New York is also home to the world-renowned Albany Nanotech Complex, which is a multibillion-dollar public-private partnership, comprising the most advanced, publicly owned, 300-millimeter semiconductor research and development facility and bringing together premier universities and leading industry players to drive cutting-edge chip development. Because of the tireless advocacy of Governor Hochul and Senator Schumer, semiconductor supply chain companies like Edwards are also growing as well. Earlier this year Corning Incorporated invested $139 million, creating over 270 new jobs in Monroe County to meet the demands of the growing semiconductor market.

    About Edwards Vacuum
    Edwards is the leading developer and manufacturer of sophisticated vacuum products, exhaust management systems and related value-added services. These are integral to manufacturing processes for semiconductors, flat panel displays, LEDs and solar cells; are used within an increasingly diverse range of industrial processes including power, glass and other coating applications, steel and other metallurgy, pharmaceutical and chemical; and for both scientific instruments and a wide range of R&D applications.

    Edwards has more than 8,000 employees worldwide engaged in the design, manufacture and support of high technology vacuum and exhaust management equipment and has state-of-the-art manufacturing facilities in Europe, Asia and North America.

    Edwards is part of the Atlas Copco Group (NASDAQ OMX Stockholm: ATCO A, ATCO B), a Sweden-based provider of industrial productivity solutions.

    Further information about Edwards can be found at www.edwardsvacuum.com

    Accelerating Finger Lakes Forward
    Today's announcement complements "Finger Lakes Forward," the region's comprehensive blueprint to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative. The State's $500 million investment will incentivize private business to invest well over $2.5 billion - and the region's plan, as submitted, projects up to 8,200 new jobs. More information is available here.

    About Empire State Development
    Empire State Development is New York's chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the New York State Regional Economic Development Councils and the marketing of "I LOVE NEW YORK," the State's iconic tourism brand. For more information on Regional Councils and Empire State Development, visit http://www.regionalcouncils.ny.gov/ and http://www.esd.ny.gov/.


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