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New York Plans $10 Billion Investment in Semiconductors
December 12, 2023
In a stride toward bolstering scientific research and development, New York State is investing $10 billion to construct a state-of-the-art semiconductor research facility at the University at Albany. This pioneering initiative is a collaborative effort, involving major players in the chip industry and managed by the nonprofit organization NY Creates. The move is part of a larger strategy designed to fortify domestic chip production and minimize dependence on foreign technologies.
This project puts Albany on the world tech map, as the city’s NanoTech Complex will house the globe’s most advanced chip-making machinery from ASML Holding NV, a celebrated Dutch enterprise known for its high-tech equipment.
Governor Kathy Hochul lends her support to this game-changing project, giving it a further boost. And it’s not just the governor’s office; heavyweights in the tech industry, namely International Business Machines Corp, Micron Technology Inc., Applied Materials Inc., and Tokyo Electron, have also joined the fray. This partnership seeks to spearhead the development of future chip manufacturing technologies. It lines up perfectly with New York’s ambition to transform into a notable research hub under the umbrella of the $53 billion Chips Act, a legislation that earmarks $11 billion for the National Semiconductor Technology Center to boost domestic chip R&D.
At the heart of this quest is the equipment from ASML, especially its extreme ultraviolet light (EUV) machines. The Albany facility is set to become the incubator for the next iteration of these systems, namely high-NA EUV, slated to hit commercial production by 2025.
This ambitious endeavor isn’t just about tech advancements. The project is expected to generate 700 jobs, attracting a staggering $9 billion in private investment. New York State’s own contribution includes a $1 billion investment to purchase ASML machinery and build a 50,000-square-foot dedicated chip manufacturing facility, which should be ready within a two-year timeline.
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