The U.S. Senate [recently] approved the U.S. Innovation and Competition Act (USICA). The more than $250 billion measure would increase research and development in critical new technologies, create new innovation hubs in midsized markets, such as the Syracuse metro area, incentivize domestic semiconductor production, and enhance America’s tech competitiveness with China. Sponsored by Senate Majority Leader Chuck […]
The U.S. Senate [recently] approved the U.S. Innovation and Competition Act (USICA). The more than $250 billion measure would increase research and development in critical new technologies, create new innovation hubs in midsized markets, such as the Syracuse metro area, incentivize domestic semiconductor production, and enhance America’s tech competitiveness with China.
Sponsored by Senate Majority Leader Chuck Schumer, the USICA represents one of the largest federal investments in research and technology in decades.
The USICA includes $10 billion for regional technology hubs; $100 billion for new R&D-related activities, including the expansion of the Manufacturing Extension Partnership program; and provides more than $50 billion for semiconductor research.
The package’s focus on emerging technologies and higher education, puts into law something we have known for decades, places like Syracuse and Central New York have much to offer our country and the world in terms of innovation, research, and development. These needed investments in American competitiveness will ensure that federal research funding flows beyond the usual mega-regions and gets to the heart and soul of America’s innovation ecosystem — where academic excellence meets manufacturing prowess.
Our region is well-positioned to become a regional technology hub and accelerate our growth through these investments. This is further supported by the City of Syracuse’s efforts to become one of the nation’s first interconnected “smart cities” using 5G wireless technology. Likewise, Syracuse and Onondaga County’s work to open the STEAM high school means our region will have a workforce ready to meet future demands. Our region’s strong natural resources and expertise also place it at a competitive advantage to attract semiconductor manufacturers that would be incentivized through the bill’s CHIPS for America Act.
With its 68-32 approval from the Senate, the USICA will be considered next by the House of Representatives. The Biden administration has indicated its support for the measure. We encourage you to contact your federal representatives and voice your support for the USICA.
If you would like to become more engaged in our federal, state, and local advocacy work, or our Government Relations Committee, please contact Kevin Schwab, CenterState CEO’s VP of public policy and government relations, at kschwab@centerstateceo.com.
Robert M. Simpson is president and CEO of CenterState CEO, the primary economic-development organization for Central New York. This article is drawn and edited from the “CEO Focus” email newsletter that the organization sent to members on June 17.
