The U.S. Senate has passed the $250 billion U.S. Innovation and Competition Act to support the semiconductor industry, which includes the soon-to-be Cree facility in Marcy.
The funds will go toward research and subsidies for U.S. manufacturers like Cree.
“Senate passage of the bipartisan U.S. Innovation and Competition Act moves forward historic legislation to invest in science, technology, and U.S. manufacturing that will shore up critical industries like semiconductors, artificial intelligence, advanced communications like 5G, quantum computing, biotechnology, and advanced energy, and create opportunity to reshape the Upstate New York economy with investment in new regional tech hubs and support for New York entrepreneurs and research at universities and laboratories,” said Schumer.
The legislation also aims to help protect American jobs by keeping production domestic.
“This bipartisan piece of legislation fosters public–private partnerships that will improve the United States competitiveness in semiconductor technology, increase manufacturing jobs with expansion of new fabs to reverse the off-shorting of jobs and technology, and strengthen critical supply chains that are vital to this nation’s economy and national security interests,” said Steven DiMeo, president of Mohawk Valley EDGE.
Oneida County Executive Anthony Picente also says the investment in local research and production “is great news for America and Oneida County.”