President Biden’s Visit & Announcement Mark Historic Moment for Regional Progress

CenterState CEO President Rob Simpson issued the following message to members regarding Micron's reported CHIPS Act funding and President Joe Biden's plan to visit Central New York:

This is a momentous week for the Central New York community as we will welcome President Joseph Biden for a historic announcement Thursday. His visit will highlight the impact that will come to this region from Micron Technology reaching a $6.1 billion preliminary funding agreement with the U.S. Department of Commerce under the CHIPS and Science Act. 

This announcement is yet another exciting moment in our region’s long return to economic prominence. President Biden’s visit underscores that Micron’s project is not just reshaping our region’s economic landscape, it’s transforming our nation’s economic competitiveness and vaulting Upstate New York into an entirely new tier of criticality to our country’s future. Within the next decade, when Micron has just two of its four fabs up and operating, one in four American-made chips will be produced within 350 miles of this Upstate Semiconductor Corridor. No other area of the country will account for a greater share of domestic production.
 
This investment in Micron also marks the last significant component of the capital stack paving the way for it to build its first two fabs by the end of the decade. This critical milestone for Micron’s project should erase any lingering skepticism that the company’s plans to grow in Central New York are real.

I couldn’t be more proud and more grateful to all the partners who made this possible. U.S. Senate Majority Leader Charles Schumer deserves recognition for helping to write the bipartisan CHIPS and Science Act and ensuring that it was able to pass Congress. He has also fought tirelessly behind the scenes to make sure Micron got what it needed to bring this monumental project to Upstate New York. Governor Kathy Hochul, Empire State Development, Onondaga County Executive Ryan McMahon, U.S. Senator Kirsten Gillibrand, the team at Micron, and my colleagues at CenterState CEO should also be acknowledged for their coordinated efforts to bring this level of investment to Central New York.

I remember the day when securing a million-dollar grant for a downtown revitalization project was big news in Syracuse. I am immensely proud of the role that CenterState CEO has played in attracting capital to our region - millions and now billions of dollars that will further fuel the strategies behind our economic renaissance and create greater prosperity for all our region’s residents.

Following this CHIPS and Science Act announcement, we will now begin to see Micron’s project advancing more quickly, creating jobs and impact for our regional community faster than we previously expected. While this is unequivocally welcomed, it also increases the pressure on our civic capacity, our elected officials, and our philanthropic and business communities to dial up our efforts to respond to the rapid growth we're about to experience. Our civic cohesion is what got us to this moment and created these opportunities, and I know it will enable us to redefine the future of this community for generations to come. 

I look forward to welcoming President Biden back to Central New York to celebrate this new and exciting chapter for our community.