CenterState CEO Joins Leaders at White House for Signing of CHIPS and Science Act

Today, President Joe Biden signed the CHIPS and Science Act into law. I am incredibly grateful to have been invited to attend the Rose Garden ceremony for this momentous signing.

 

This Act will increase our country’s global competitiveness in the semiconductor industry and will lead to the reshoring of American production of these devices, and ultimately the creation of thousands of jobs and greater economic prosperity – including right here in our region. The bill requires recipients of semiconductor manufacturing incentives to demonstrate significant worker and community investments, including opportunities for small businesses and disadvantaged communities, ensuring these semiconductor incentives support equitable economic growth and development. CenterState CEO has advocated for more than seven years for place-based investments in innovation, which are included in CHIPS and Science.

 

U.S. Senate Majority Leader Chuck Schumer and Representative John Katko deserve significant credit for their bipartisan leadership that enabled the passage of this legislation. Their efforts ensure communities like ours, long buffeted by global economic forces, can now realize unprecedented opportunities.

 

To realize those opportunities, our focus and efforts are fully committed to attracting a major semiconductor project to the White Pine mega-site, in Clay. Thanks to the efforts of County Executive Ryan McMahon and others, White Pine is attracting significant attention as one of a few sites in the nation that can support a large semiconductor manufacturing project. Unlike any other, it has the necessary infrastructure in place and is ready for construction, along with access to fresh water, and a clean and renewable power supply. With these features, and the talented workforce available here, there is good reason to believe we can be successful.

 

But what truly makes our community competitive is the ground-breaking Green CHIPS legislation, which allows the state to offer up to $500 million a year in tax credits to chip companies that build new factories in New York state. This important legislation, which CenterState CEO strongly advocated for, reflects the leadership of Governor Kathy Hochul, and efforts by Senators John Mannion and Jeremy Cooney, and Assemblyman Al Stirpe.

 

It cannot be overstated that this community has an unprecedented opportunity before it to realize a greater level of economic competitiveness and prosperity than it has seen in generations. Today, Central New York is on the verge of recapturing its rightful place as a globally relevant research and manufacturing center. I am truly excited for the opportunities ahead. I thank every one of you for the work you have done to help position our community for this moment.