Hudson Valley Community College hosted a roundtable on Aug. 10 organized by Congressman Paul Tonko, who invited local higher education and semiconductor industry leaders to discuss the local readiness to implement the recently-approved CHIPS and Science Act of 2022 that President Biden signed into law on Aug. 9. The following local local media outlets covered the event:
First introduced in Congress in 2020, the CHIPS — Creating Helpful Incentives to Produce Semiconductors — for America Act establishes investments and incentives to support U.S. semiconductor manufacturing, research and development, and supply chain security. Specifically, the bill provides an income tax credit for semiconductor equipment or manufacturing facility investment through 2026. The bill also creates a trust fund to be allocated when agreements are reached with foreign government partners to promote (1) consistency in policies related to microelectronics, (2) transparency in microelectronic supply chains, and (3) alignment in policies toward non-market economies.
In addition to Congressman Tonko, roundtable participants are President Roger Ramsammy; Dr. Tod A. Laursen, interim president, SUNY Polytechnic Institute; Dr. Shadi Shahedipour-Sandvik, SUNY Provost; Dr. Martin A. Schmidt, president, RPI; Dr. Havidán Rodriguez, president, University at Albany; David Anderson, director, NY-CREATES, a world leader in high technology innovation and R&D; Mike Munro, senior manager of Albany Business Operations, Alliances – IBM Research, and Jordan Steller, representing Global Foundries.
Related Article published Aug. 11 in The Troy Record by Michael Gwizdala:
Hochul signs Green CHIPS program legislation into law
ALBANY, N.Y. — At the Albany Nanotech Complex Thursday morning, New York Gov. Kathy Hochul signed the Green CHIPS program legislation into law.
The law looks to create jobs, kick-start economic growth, and maintain important environmental protections while making New York a hub for semiconductor manufacturing. It also aims to help New York attract chip manufacturers to the state, generating at least $3 billion in investment, creating 500 new jobs per project, and lowering greenhouse gas emissions related to chip production.
“New York is poised to lead the nation in semiconductor manufacturing — and as always, we’re doing it in the cleanest, greenest way possible,” Hochul remarked.
“This transformative legislation, in addition to longstanding investments in this industry and bipartisan action from the federal government, takes a significant step forward in creating jobs and sparking economic growth in New York. If you’re looking for a high-tech job or trying to relocate your business, there’s no better place than New York State,” Hochul explained.
Additionally, the law positions New York State to significantly benefit from the federal CHIPS and Science Act, written by U.S. Senate Majority Leader Chuck Schumer, to increase domestic semiconductor manufacturing in the United States, which was signed into law by President Joe Biden.
Schumer noted that this program will build on the federal semiconductor manufacturing incentives created by his legislation to help attract major semiconductor companies and their supply chains to New York, create thousands of good-paying manufacturing and construction jobs, all while strengthening our national security, lowering costs for families, fighting inflation, and promoting environmental sustainability.
“New York has all the ingredients to be America’s preeminent hub for semiconductor manufacturing and R&D, and the combination of my new federal microchip fab -incentives with the state’s new Green CHIPS program will be the one-two punch Upstate New York needs to land major investment and create thousands of good-paying jobs in an industry that will dominate this century. Simply put – this is the 21st Century’s Erie Canal!” Schumer exclaimed.
“I applaud Governor Hochul for her bold, decisive action to ensure the future of America is built by New York hands and her partnership in fighting to make the Empire State the global capital for microchip manufacturing,” Schumer continued.
“When you combine the chip manufacturing potential at sites like White Pine Commerce Park in Central New York, Marcy Nanocenter in the Mohawk Valley, and STAMP in Genesee County, with Globalfoundries and Wolfspeed’s existing plants, onsemi soon acquiring a facility in East Fishkill, and a robust supply chain, all coupled with an unparalleled workforce and world-renowned research capabilities at the Albany Nanocenter and across the SUNY system and the state’s universities and labs, there is no question New York is better suited than anywhere in the nation to lead the fight for our future and revive the American semiconductor industry,” Schumer added.
Schumer explained that New York is uniquely suited to take advantage of the federal investments he just secured in his legislation for semiconductor manufacturing, and that New York’s Green CHIPS program further boosts the state’s chances of landing major new microchip manufacturing fabs and the thousands of jobs that come with them. New York is presently home to more than 80 semiconductor companies that employ more than 34,000 NY workers.
Fresh off an Aug. 10 roundtable discussion with region leaders at Hudson Valley Community College, Rep. Paul Tonko (D-Amsterdam) lauded the legislation and its impact on the area.
“I’m thrilled to celebrate the signing today of New York’s landmark Green CHIPS legislation. The up to $10 billion in incentives for environmentally friendly semiconductor manufacturing here in our state will combine with our federal CHIPS and Science Act to provide a major boost to the emerging chip manufacturing industry in our Capital Region,” Tonko said.
“Investments like these help lower costs for American families, strengthen our domestic supply chains, create good paying jobs, and help build out our growing STEM workforce. I’m proud to spearhead these efforts in the House that deliver for our communities and ensure our state is a global leader in chip manufacturing, and I look forward to continuing to work alongside Governor Hochul to drive investment and innovation in this fast-growing industry,” Tonko added.
Additionally, the Green CHIPS law ensures:
• At least 500 new jobs and at least $3 billion in qualified investment over a 10-year term. Projects in good standing can then enter a second 10-year term with at least 500 more new jobs and $3 billion more in qualified investment above and beyond the first phase.
• An approved clean energy plan that mitigates the project’s GHG emissions and other environmental impacts.
• Significant investment in workforce and community development, including training and education benefits and programs to expand employment opportunity for economically disadvantaged individuals.
• Prevailing wage rates for project construction.
• Job creation and investment milestones must be met before claiming any tax credits, in line with the Excelsior Tax Credit Program’s pay-for-performance model.
Green CHIPS also amends the longstanding, pay-for-performance, Excelsior Jobs Tax Credit program, which provides incentives based on job creation and company investment to better attract semiconductor manufacturing facilities by adding a new Green CHIPS category to the program. Green CHIPS projects must be in the semiconductor sector and must result in at least $15 of private investment for every $1 of state investment.
To ensure transparency and accountability, all Green CHIPS projects will be listed on New York State’s Database of Economic Incentives, as well as in Quarterly Excelsior Jobs Tax Credit Program reports.
Published: Thu, 11 Aug 2022 12:30:14 +0000 by d.gardner