To support student journalism and the content you love, become a member of The Daily Orange today.

Micron Technology announced Tuesday it will invest up to $100 billion to build a 1,400-acre semiconductor fabrication facility just north of Syracuse.

Micron, the fourth-largest producer of semiconductors in the world, will construct a high-volume semiconductor memory manufacturing site, creating nearly 50,000 jobs, Chancellor Kent Syverud said in a campus-wide email. Onondaga County will also invest $10 million in conjunction with Syracuse University to establish a semiconductor research and development initiative at the Syracuse Center of Excellence.

“Today’s announcement represents a once-in-a-lifetime opportunity for our region and our people,” Syverud said.

An economic impact study from Regional Economic Models, Inc. estimated that the Micron project will generate transformative economic growth for central New York and New York state, according to a press release from Governor Kathy Hochul.

Over the first 31 years of operations, the project will generate an additional $16.7 billion in economic output and $9.6 billion in real Gross Domestic Product on average per year, according to the study.

The facility must meet certain requirements, such as adopting sustainability measures or creating at least 500 jobs, to adhere with the state’s Green CHIPS Act, a program specific to the semiconductor industry, the release said. It will also use only renewable resources for electricity and reach at least a gold certification on the Leadership in Energy and Environmental Design scale.

Hochul said Micron’s investment will jumpstart and transform the economy, making New York the most business-friendly and worker-friendly state in the nation.

“Together, we are leveraging this investment — the largest private-sector investment in state history — to secure our economic future, solidify New York’s standing as a global manufacturing hub, and usher the state into another Industrial Revolution,” Hochul said.

The Onondaga County Industrial Development Agency and Micron will enter into a 49-year Payment in Lieu of Taxes agreement. Micron will also have its local and state taxes abated on construction expenses.

Syracuse Mayor Ben Walsh said in a press release Tuesday that Miron’s commitment to build a “mega-complex” in Onondaga County also energizes the Syracuse Surge initiative, a series of projects in the city aimed at economic development.

“Syracuse and Central New York are honored by Micron’s vote of confidence in the region,” Walsh said.

Published on October 4, 2022 at 10:55 pm