New York pledges $1B on chip research and development in Albany in bid for jobs, federal grants

By MAYSOON KHAN
Associated Press/Report for America

ALBANY, N.Y. (AP) — New York Democrats say the state will spend $1 billion to expand research into chip technology in an effort to turn upstate New York into a global center of semiconductor research and manufacturing. Gov. Kathy Hochul says the $1 billion in state funding will be matched by at least $9 billion in investments from companies including semiconductor designer IBM and semiconductor manufacturer Micron. The plan is to eventually create 700 new jobs in Albany and allow for the purchase of a cutting-edge computer chip machine. It’s part of a long-term U.S. plan to wrest control of the industry away from competitors, particularly China.