Edwards Vacuum is also expected to apply for property, sales, and mortgage tax assistance from the Genesee County Economic Development Center (GCEDC) to support the company’s investment at STAMP. The request would support the largest workforce and capital investment proposed by any company at a GCEDC-developed site.
“There is a saying that economic development is a marathon and not a sprint and that has been our approach to STAMP ever since it was a concept on paper over a decade ago,” said GCEDC President and CEO Steve Hyde. “That’s why it is so gratifying to see how that steady and purposeful approach is resulting in a significant return on the investment that has been made through the years by our public and private sector partners and in particular by Senator Schumer and Governor Hochul by this announcement today. This announcement shows that STAMP and our region are the ideal location for semiconductor industry growth.”
The Onondaga County, NY facility will be largest semiconductor fabrication facility in U.S. history, create approximately 9,000 jobs. Read more…
Edwards Vacuum’s investment adds to New York’s growing semiconductor industry. In addition to Micron’s major $100 billion investment in Central New York (see above), the state is home to multiple global industry chip leaders including GlobalFoundries, Wolfspeed, onsemi, and IBM. New York is also home to the Albany Nanotech Complex, a multibillion-dollar public-private partnership, comprising the most advanced, publicly owned, 300-millimeter semiconductor R&D facility which brings together universities and industry players to drive cutting-edge chip development. Earlier this year, Corning Incorporated invested $139 million, creating over 270 new jobs in Monroe County to meet the demands of the growing semiconductor market.