The “tech hub” bid submitted by Buffalo, Rochester and Syracuse plans to use about $54 million in federal funds to bolster the semiconductor industry in upstate New York.
Now, the three-region team will wait to find out if its entry is deemed worthy of funding, in a competition overseen by a federal agency.
If the money comes through, New York State has committed an additional $10 million to support the plans to bring the total value to about $64 million.
The joint bid, created under the NY SMART I-Corridor banner, would create a “semiconductor corridor” from Buffalo to Syracuse.
It is an industry in the spotlight, with Micron Technology announcing a chip fabrication plant near Syracuse worth up to $100 billion, and Edwards Vacuum planning a $319 million facility in Genesee County to support chip plants.
It is crunch time for the “tech hub” bid consisting of Buffalo, Rochester and Syracuse. The three-region team has about a month and a half left to develop and submit proposals that could be awarded up to $75 million in federal funding.
On top of those projects, there’s a clamor to increase domestic manufacturing of semiconductors, with the overwhelming majority of chips currently made overseas.
The NY SMART tech hub bid would seize that…
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