Micron Computer Chip Factory in Syracuse Could Cost Up To $100 Billion
On Tuesday, New York State Governor Kathy Hochul announced that the new Micron campus in Syracuse could cost up to $100 billion over the next 20 years and create up to 50,000 jobs in the state.
According to the press release, the first phase of the investment will cost $20 billion through the end of the decade and make Central New York a technology and manufacturing hub. The electricity used by the complex will also be 100% from renewable sources, furthering New York's green initiatives.
"Micron's $100 billion investment in New York marks the start of something transformative in scale and possibility for our state's economic future," said Governor Hochul. "I promised that we would jumpstart the economy by being the most business-friendly and worker-friendly state in the nation, and thanks to our State Green CHIPS legislation, the federal CHIPS and Science Act, and extraordinary partnerships with business, labor, and local and federal leaders, this project will do exactly that."
The press release also notes that the first $20 billion invested this decade could create up to 50,000 jobs, with the average salary of Micron employees being over $100,000 and greatly benefit the construction industry.
Micron will also spend 30% of its construction budget on work performed by socially and economically disadvantaged individuals, New York State-certified minority and women business enterprises, and service-disabled veteran owned businesses.
The manufacturing campus will cover 1,400 acres in the Town of Clay just north of Syracuse.
"This is our Erie Canal moment," said Senate Majority Leader Chuck Schumer. "Just as the original Erie Canal did centuries ago, this 21st Century Erie Canal will flow through the heart of Central New York and redefine Upstate New York's place in the global economy for generations to come."