Majority Leader Schumer Floor Remarks On The Historic $10 Billion Investment In The Albany NanoTech Complex Made Possible By The CHIPS And Science Act

Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on a new public-private partnership enabled through the CHIPS & Science act that will expand the Albany NanoTech Complex. Below are Senator Schumer’s remarks, which can also be viewed here:

Earlier today, I joined Governor Hochul and Albany leaders to announce a historic $10 billion public-private partnership to make the Albany NanoTech Complex the most advanced center for semiconductor research in the entire world.

It is a landmark day for the Capital Region in New York. That’s Albany, Troy, and the tri-city area. This $10 billion partnership, spurred by the CHIPS and Science Act, will bring the most cutting edge semiconductor machinery on the planet to Albany and propel Albany NanoTech as the premiere global center for semiconductor research.

Today’s announcements will mean hundreds of new high-paying tech jobs, hundreds of construction jobs, and a tidal wave of scientific innovation that engineers today cannot even fathom.

When I wrote the CHIPS and Science Act, I had precisely regions like Albany and Upstate New York in mind, because these communities have so much to offer for America’s semiconductor future.

As we enter the home stretch for the selection of the major hubs of the National Semiconductor Technology Center, today’s $10 billion announcement will strengthen Albany and Upstate New York’s case as the best region to lead the next generation of innovations in America’s microchip industry.

Today’s announcement comes on the same day as the announcement by the Commerce Department of the first funding agreement from CHIPS incentives program. BAE Systems will receive $35 million to quadruple its production capacity for chips essential to our national security, including for F-35 fighter jets.  This award, like today’s announcement in Albany, shows that the CHIPS and Science Act is delivering for American workers and for our national security.

So, it is an exciting time for New York tech, with major announcements from companies like Micron, IBM, Globalfoundries, and so many others made possible because of CHIPS and Science. And I believe the best for New York’s semiconductor industry is still to come.

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