Governor Hochul Advances $500 Million Green Chips Community Investment Fund to Benefit Communities Surrounding Micron’s Megafab in Central New York

Governor Kathy Hochul today unveiled the guidelines for the $500 million Green CHIPS Community Investment Fund which was created as part of the Green CHIPS incentive agreement between Micron and Empire State Development. The Fund was established to amplify the benefits of Micron's $100 billion investment in New York State, which represents a once-in-a-generation opportunity for Central New York. Micron's presence will create nearly 50,000 jobs, including 9,000 new, high-paying Micron jobs and thousands and thousands of prevailing wage construction jobs. When complete, the complex will include clean room space at approximately 2.4 million square feet, the size of nearly 40 football fields. Information about the fund can be found on ESD's website as well as registration for the community workshops.

"As New York continues to grow into a global epicenter for semiconductor manufacturing, the Green CHIPS Community Investment Fund will help ensure that the transformation benefits every corner of the Central New York community," Governor Hochul said. "As our partnership with Micron ushers in an era of unprecedented job growth and investment, my administration is committed to spreading the investment across the communities that are the foundations of the economic resurgence."

The Fund will support investments in four categories: workforce development, education, community investments, and housing. In keeping with Governor Hochul and Micron's emphasis on meaningful, ground-up participation in the Green CHIPS Community Investment Fund, the program guidelines center on the grassroots priorities outlined in the recently released Community Priorities Document from the Central New York Community Engagement Committee. These elements form the key criteria in the program guidelines with special consideration given for projects that address the immediate priorities identified in the Community Priorities Document.

Empire State Development is contributing $100 million to the fund. Investments from ESD's portion will be available for capital-based projects and ESD will consider grant requests over $100,000. Refer to the full program guidelines for ESD's funding for additional detail. Micron is committing $250 million to the Community Investment Fund over the next 20 years, with an additional $150 million to be raised from private philanthropy and other sources. Investments from Micron's portion of the Community Investment Fund will be determined by Micron with guidance from the Community Priorities Document and in consultation with ESD. Awards will be publicly reported as part of Micron's Green CHIPS incentive requirements.

Governor Hochul and Micron ensured residents played a prominent role in the discussion and implementation of the fund by forming the Central New York Community Engagement Committee. Made up of local stakeholders and five ex officio members, the Committee engaged in a community-led effort to create the Community Priorities Document which included more than 13 months of public engagement across more than 300 community organizations and contains input from more than 12,700 Central New Yorkers. This document identifies and elevates ideas for making investments that will create meaningful and lasting changes for the Central New York region and represents a crucial component of the program guidelines.

Empire State Development in conjunction with Micron and the Community Engagement Committee will hold a series of workshops to educate potential applicants about the Community Priorities Document and the grant application process. To register and to learn about future sessions visit the Community Investment Fund program page on the ESD website.

All entities seeking Green CHIPS Community Investment Fund grant funding, must submit a Letter of Intent for initial consideration. Letters of Intent will be received and reviewed on an ongoing basis by funding partners. Letters can be submitted beginning August 15, 2024. Letter of Intent submissions will be reviewed by ESD and Micron and those that align with program goals will be invited to submit a full application.

Governor Hochul's $10 billion Green CHIPS incentive program is the most ambitious semiconductor industry attraction program in the nation and focuses on sustainability and community investments while driving semiconductor manufacturing to New York State. By leveraging the federal CHIPS and Science Act incentive opportunities with state funding, the Governor's initiatives have unlocked historic investments from the semiconductor industry, including the $100 billion investment from Micron as well as investments from GlobalFoundries, IBM, TTM Technologies, and other semiconductor and supply chain businesses. Additionally, Governor Hochul announced the $10 billion partnership with leaders from the semiconductor industry such as IBM, Micron, Applied Materials, Tokyo Electron, and others to establish a next-generation semiconductor research and development center at NY CREATES' Albany NanoTech Complex. The partnership will fund the construction of a cutting-edge High NA Extreme Ultraviolet Lithography Center - the first and only publicly owned High NA EUV Center in North America - that will support the research and development of the world's most complex and powerful semiconductors.

Empire State Development President, CEO and Commissioner Hope Knight said, "Micron's historic $100 billion investment in Central New York will transform the upstate economy for years to come. The Green CHIPS Community Investment Fund represents a once-in-a-generation opportunity to lift up disadvantaged communities and ensure the benefits of this growth will be felt equitably by all Central New Yorkers."

President & CEO, the Central New York Community Foundation Melani, CEC Co-Chair Melanie Littlejohn & Vice President of the Syracuse Educational Opportunity Center, CEC Co-Chair Tim Penix said, "This fund has the potential to make sure economic growth in our region's future benefits everyone, especially those historically left behind. By centering the voices of Central New Yorkers in the Community Priorities Document, we believe this program will help bring equitable and inclusive growth following Micron's transformative investment. As we move forward, we're excited to see awards from this fund create new opportunities that reach every corner of Central New York, uplifting our entire community."

Contact the Governor's Press Office