Statement From Governor Kathy Hochul on the Second Anniversary of the Signing of the Chips and Science Act

"Two years ago today, the future of American manufacturing changed - forever. With the stroke of a pen, President Biden signed the CHIPS and Science Act into law.

"Since that extraordinary day, New York State has benefitted from unprecedented investments that are transforming our state into a global hub for semiconductor manufacturing. Chip companies have announced over $112 billion in planned capital investments in New York - revitalizing Upstate communities and creating tens of thousands of good-paying jobs. No other region in America will account for a greater share of domestic production.

"And we're not done yet. This critical industry is continuing to expand with major investments from semiconductor businesses and supply chain companies like Micron, GlobalFoundries, AMD, Edwards Vacuum, MenloMicro and TTM Technologies to expand their presence in New York. In July, the U.S. Department of Commerce awarded a phase two Tech Hub grant of $40 million to the New York Semiconductor Manufacturing and Research Technology Innovation Corridor (NY SMART-I Corridor) consortium. Over the next five years, the consortium will serve a critical role in supporting Upstate New York's continued growth into a globally competitive center of semiconductor workforce development, innovation and manufacturing.

"For communities that have experienced decades of economic stagnation and neglect, these extraordinary commitments are the beginning of an economic renewal - bringing better schools, better hospitals, safer streets and stronger infrastructure.

"The CHIPS and Science Act has put New York on the precipice of a defining age of manufacturing and transformed the future for generations of New Yorkers. I'm grateful to Leader Schumer, Leader Jeffries, the New York Congressional Delegation and the Biden-Harris Administration for their historic efforts and for keeping their promise to the American people."

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