New York inks $10B toward semiconductor R&D partnership | Dump Trucks Charlotte NC

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Columbus Ohio Dump Truck Company Brief:

• New York is forging a $10 billion partnership with semiconductor giants such as IBM, Micron and Applied Materials to build a chip research and development center in the state’s capital, Gov. Kathy Hochul announced on Monday.
• The funds will go toward building a high numerical aperture extreme ultraviolet lithography center, a type of production facility that makes some of the world’s most advanced semiconductors, at NY Creates’ Albany NanoTech Complex.
• The state is also investing $1 billion to expand the Albany NanoTech campus, including with the purchase of an EXE: 5200 High NA EUV scanner, a cutting-edge system that’s only manufactured by chip columbus oh dump trucks supplier ASML and enables semiconductor makers to pattern the finest details on advanced microchips.

Dump Trucks Columbus OH Insight:

Once construction is complete on the R&D center, the state will be able to grow its global semiconductor partnerships further, as well as attract chip-related businesses to the state, according to state officials. 

The project will leverage at least $9 billion in private funds and create up to 700 jobs. It also includes commitments to create state talent development pipelines in partnership with the State University of New York System. 

Officials hope the multi-billion dollar project will raise the state’s chances of being selected as an anchor hub for semiconductor production as part of the Commerce Department’s National Semiconductor Technology Center, established through the CHIPS and Science Act.

New York has been taking action to boost its semiconductor production and align with the federal CHIPS and Science Act in the past year. In August 2022, the state passed the Green CHIPS law to help reduce construction costs and operation costs for chip fabs through expanded tax credits. 

“We’re building the future of semiconductor research right here in New York,” Hochul said in a statement Tuesday. “This industry is creating real opportunity in our state with major regional investments, countless new jobs, and bold commitments to workforce development and sustainability.”

In January, New York created the Governor’s Office of Semiconductor Expansion, Management, and Integration. The office will help oversee Micron's $100 billion investment to build one of the largest fabrication production facilities in the U.S., as well as further develop the state’s semiconductor industry.

New York is home to over 70 semiconductor companies, including an IBM research facility in Albany and an Applied Materials' Engineering Technology Accelerator center opened on the State University of New York Polytechnic Institute campus in 2019.  

New York is not alone in attempting to grow its local chip industry.In September, Florida announced plans to invest $50 million in the sector. And in June, Texas announced it will invest $1.4 billion in semiconductor manufacturing and development.