Buffalo-Rochester-Syracuse tech hub awarded $40M federal investment

Editor’s note: A live news conference was streamed in this post at 2:15 p.m. You can watch the full press conference at the bottom of this page.

ROCHESTER, N.Y. (WROC) — The tech hub of the Buffalo-Rochester-Syracuse area was awarded $40 million for Upstate New York’s goal of becoming a semiconductor superhighway.

The “NY SMART I-Corridor Tech Hub” is one of 12 Tech Hub winners nationwide. The investment will be used to build out key areas to strengthen Upstate NY as the epicenter of the US’s “semiconductor future.”

The investment will be used to accomplish goals such as strengthening the workforce training program at Monroe Community College, closing gaps in the supply chain, making it easier for local firms to grow in the semiconductor industry, and helping small and minority-owned businesses access commercialization resources.

“There is a national spotlight here, now that we are the only tech hub for chip fabs, it’s going to attract jobs from all over the world,” said Senator Chuck Schumer Tuesday in MCC. He alluded to promising meetings with Taiwanese and Japanese investors and chip-makers.

The region won a Tech Hub designation in October 2023 , beating out hundreds of other applicants to become one of 31 regions to receive the designation. Experts say this funding could transform the region into a globally-recognized semiconductor manufacturing hub.

“We are not a rust belt, I would say a gold belt after today, we are no longer a rust belt, things have changed,” said Bob Duffy of the Greater Rochester Chamber of Commerce.

Earlier this year, GlobalFoundries was provided $1.5 billion to expand production in New York and Vermont. The company intended to put the money towards a new chip factory in Malta, New York.

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