SYRACUSE, N.Y. — Micron Technology Inc. (NASDAQ: MU) plans to invest up to $100 billion over the next 20-plus years on a semiconductor manufacturing campus at the White Pine Commerce Park in the town of Clay.
Micron CEO Sanjay Mehrotra on Tuesday joined Gov. Kathy Hochul, U.S. Senate Majority Leader Charles Schumer (D–N.Y.), and Onondaga County Executive Ryan McMahon for the announcement at Syracuse University’s National Veterans Resource Center.
Hochul’s office called it “one of the largest economic development projects in U.S. history” and described it as a ““transformational public-private partnership” with Micron.
The Boise, Idaho–based technology firm’s first-phase investment of $20 billion is planned by the end of this decade, with the $100 billion total investment stretching over two decades, per Hochul’s office.
The effort will create nearly 50,000 jobs statewide — 9,000 new “high-paying” Micron jobs with an average annual salary of over $100,000 and over 40,000 community jobs — and create “thousands and thousands” of prevailing wage construction jobs. When complete, the complex will include the nation’s largest clean-room space at about 2.4 million square feet, “the size of nearly 40 football fields.”
Incentives
To attract Micron, Empire State Development (ESD) has offered a package of performance-based incentives up to $5.5 billion in Green CHIPS Excelsior tax credits over two phases over 20 years. The “targeted incentives” are directly tied to Micron creating 9,000 new jobs, investing $100 billion, and meeting the Green CHIPS community benefits package and sustainability standards, per Hochul’s office.
The agreement also includes a commitment by New York State to invest $200 million for necessary road and other infrastructure improvements surrounding the campus, and $100 million in funding for community benefits as part of the $500 million Green CHIPS Community Fund.
In addition, the New York Power Authority (NYPA) board of trustees will review a power-allocation award from NYPA’s low-cost ReCharge NY power program at a future public meeting.
The Onondaga County Industrial Development Agency and Micron will enter into a 49-year PILOT (Payment in Lieu of Taxes) agreement and abatement of state and local sales tax on construction expenses.
The Onondaga County Department of Water and Environment Protection and the Onondaga County Water Authority will make necessary water and wastewater infrastructure improvements over the project lifecycle to support the project and surrounding community.
In addition, Onondaga County will provide a $5 million façade grant and a $10 million investment in conjunction with Syracuse University to establish a semiconductor research and development initiative to be located at the Syracuse Center of Excellence.
Onondaga County will also provide a $5 million workforce-sustainability grant to be disbursed over 10 years to help fund local skills development for Onondaga County residents, in partnership with local institutions such as Onondaga Community College. It will also kick in a $5 million workforce-attraction grant to assist with hiring during the initial project ramp-up.