New York Governor Kathy Hochul twittered on her account Tuesday that New York will be home to one of the largest economic development in American history. Gov. Hochul stressed that it will be built near Syracuse and that at least 50,000 jobs will be created. it will take at least the next 20 years of being built this factory.

The announcement comes after the passage of the CHIPS and Science Act of 2022, a federal law that allocates $52 billion to encourage more domestic semiconductor production. According to CNBC. This tremendous effort is being made from the semiconductors shortage under the pandemic, and because the computer chip industry had relied heavily on foreign countries. Micron CEO Sanjay Mehrotra credited this passage of the law for making the investment possible, according to the New York Times.

When the CHIPS Act became law, semiconductor conductor companies began investing more in the U.S. based including Micron. Micron pledged $40 billion through 2030 for U.S. chip manufacturing and it would create 40,000 domestic jobs. Qualcomm committed to buying an additional $4.2 billion worth of chips from the GlobalFoundries plant in New York. Intel also invests up to $100 billion in chip manufacturing in Ohio.

This big footstep in putting the semiconductor factories in New York State is a win for Chuck Schumer (D-NY). He has led the chips investment push and advocated for his state to host new facilities.

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