New York Commits $1 Billion to Chip Research Expansion, Joins IBM and Micron in $10 Billion Program

New York Governor Kathy Hochul is set to announce a $1 billion plan to expand chip research activities in Albany, aiming to maintain the state's position as a global semiconductor center. The investment is expected to create 700 permanent jobs, retain thousands more, and attract an additional $9 billion in investments from chip-related companies. The plan includes purchasing a new version of a sophisticated manufacturing machine and constructing a new building to house it. The initiative is intended to enhance New York's chances of hosting the National Semiconductor Technology Center and leverage federal funding allocated under the CHIPS Act.