Home Money & Business Business New York semiconductor facility selected for $825 million investment

New York semiconductor facility selected for $825 million investment

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New York semiconductor facility selected for $825 million investment

A research facility dedicated to semiconductor technology in upstate New York has been chosen as one of three national tech centers, securing up to $825 million in funding as part of a federal initiative aimed at enhancing the United States’ competitive edge in this industry.

Senator Chuck Schumer announced this development on Thursday. The Albany NanoTech complex has been designated the national hub for investigating advanced semiconductor technology, particularly extreme ultraviolet (EUV) lithography. This facility will house the most sophisticated chip-making equipment globally, fostering collaboration between industry researchers and academic scientists, as highlighted by Schumer, who serves as the Democratic majority leader in the Senate.

Schumer emphasized the importance of this high-level research, stating, “When you do the high-end research, which will be done here, and you can make the most advanced chips in the world, it ensures that our military has the edge. It ensures our economy and our companies maintain a competitive edge as well.”

The National Semiconductor Technology Center Extreme Ultraviolet Accelerator is expected to commence operations next year. This facility is funded under the 2022 CHIPS and Science Act, a legislative measure aimed at increasing high-tech employment and enhancing the U.S. position against global competitors, such as China. The Biden administration has articulated a goal for the United States to produce 20% of the world’s advanced semiconductor chips.

The Albany laboratory’s designation further supports long-standing efforts by Schumer and others to establish upstate New York as a pivotal hub for semiconductor research and production.

In late 2022, Governor Kathy Hochul announced a collaboration with the semiconductor sector to finance the development of the EUV Center. Additionally, the Biden administration revealed in February that $1.5 billion would be allocated to the computer chip manufacturer GlobalFoundries to enhance its domestic production capabilities north of Albany and in Vermont. Furthermore, in April, an agreement was made to provide $6.1 billion in government backing to Micron Technology for the production of advanced memory computer chips near Syracuse, New York, as well as in Boise, Idaho.

Schumer declared, “This is going to make upstate New York the center of semiconductor research, not just for America, but for the world.” Currently, the Department of Commerce has yet to disclose the locations of the other two national technology centers.