Senate OKs Schumer Bill That Could Bring Tech Hub, Chip Fab Plant to Syracuse
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Washington – The U.S. Senate today passed a sweeping $200 billion bill to help the nation compete against China by making one of the largest federal investments in scientific research and technology in decades.
Sen. Charles Schumer, D-N.Y., said he crafted the legislation with an eye on transforming Upstate New York’s economy into a technology hub specializing in semiconductor manufacturing.
The U.S. Innovation and Competition Act will make investments to boost industries viewed as critical to America’s competitiveness against China, the world’s second-largest economy.
The bill provides $52 billion to help semiconductor manufacturers open U.S. plants, and includes investments in artificial intelligence, 5G telecommunications, quantum computing, biotechnology, and advanced energy.
The legislation also sets aside $10 billion to establish 18 technology hubs in cities across the nation that have not traditionally been considered as hubs for research and innovation such as Silicon Valley in California.
Syracuse and Central New York business and political leaders say the region will apply to become one of the 18 regional tech hubs.
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Rob Simpson, president of CenterState CEO, a Syracuse-based economic development organization, said he has been advocating for Schumer’s bill and the idea of the tech hubs for at least five years.
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