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Hochul has the Right Plan to Grow Semiconductor Businesses in New York

Despite Samsung’s decision to build its new semiconductor manufacturing facility in Texas, there is no reason why New York State should give up on landing such mega-scale projects.

Across upstate, communities and economic developers have worked together to build strategically located sites to support business growth. These investments have produced beneficial projects, but there is an overall scarcity of shovel- and market-ready sites, and existing sites require additional investment to enable critical infrastructure to be fully competitive.

This dilemma can be resolved through FAST-NY, a proposal by Gov. Kathy Hochul that would establish funding in this year’s state budget that would make New York even more competitive in bringing these mega high-tech manufacturers to the Empire State. In fact, this proposal also has legislative support as the Senate and Assembly have introduced legislation to support the concept. Sen. Tim Kennedy, D-Buffalo, is a co-sponsor of the Senate bill.

The Science Technology and Advanced Manufacturing Park (STAMP) in Genesee County was a finalist for Samsung for many reasons. It is a 1,250-acre site that can accommodate a 6 million-square-foot manufacturing footprint. Land use plans, environmental reviews, advance permitting and zoning all have been completed. The site also is under the auspices of an economic development agency that can target the park for sale and/or transfer to the project owners.

Meaningful investments have been committed and are being made to date at the site to enable infrastructure development, including more than $50 million by New York State for planning, environmental reviews, land acquisition, infrastructure design and construction.

Genesee County and related entities have allocated approximately $10 million on planning, infrastructure design and construction. In fact, almost $120 million in funding has been committed and is being invested in and around STAMP to make it market- and shovel-ready.

Most recently, Plug Power has agreed to invest approximately $55 million to advance the development of campus-wide electrical infrastructure including design, permitting and construction of a 500MW capable main campus substation. This is a vital component to the location of North America’s largest green hydrogen manufacturing facility that Plug Power is constructing and plans to open at STAMP in 2023.

According to Global Location Strategies, a leading site selection and incentive negotiation firm for manufacturing and industrial companies, STAMP is the most well-known emerging industrial site in New York. GLS further states that with additional infrastructure enhancements STAMP leapfrogs ahead of competitive sites across the nation.

Securing the remaining investment necessary to finalize the build-out will make STAMP truly market- and shovel-ready. The governor’s budget proposal and legislation to establish funding to make sites like STAMP 100% shovel-ready does just that. This investment will remove a major obstacle and risk in the selling effort and would enable STAMP to put our region over the goal line with decision-makers for mega-scale projects currently knocking on our door.

Originally published in The Buffalo News, Written by Steve Hyde

Category: In the News