Last week, Business Facilities presented Empire State Development (ESD) with the magazine’s 2022 Platinum Deal of the Year Award for bringing Micron Technology to New York State. Kevin Younis, ESD Chief Operating Officer and Executive Deputy Commissioner accepted the award from Business Facilities’ Ben Nachsin at ESD’s offices in Albany, NY.
In October 2022, Micron announced that it had chosen Clay, NY in Onandaga County for its new semiconductor fabrication facility. Representing a $100 billion investment over the next two decades, the company’s megafab will be the largest in U.S. history. In the first phase, a $20 billion investment is planned by the end of the decade.
Business Facilities’ Deal of the Year awards recognize top economic development projects annually, with capital investment, job creation, community impact, and other significant factors considered. The panel of judges reviewed data submitted by entrants, as well as readily available data and project information. The Micron deal was featured in the cover story of the January/February issue of Business Facilities.
This award has the distinction of being Business Facilities’ first Platinum Deal of the Year. With record investments logged by economic developers in 2022, the editors expanded the Deal of the Year Awards from Gold, Silver, and Bronze to include the Platinum level captured by ESD for 2022.
And, it’s well-deserved. The organizations and individuals who collaborated to attract Micron Technology to New York State should take great pride in the transformational impact of this economic development project. And, it’s not only the mammoth capital investment and job creation that secured this award. It was also the indirect and long-term effects for the region, not to mention the sustainability, including Micron aiming to operate the site on 100% renewable electricity. Community impact is also significant. As part of the Green CHIPS Incentive Program, Micron and New York State negotiated a $500 million Green CHIPS Community Investment Fund. This new fund, administered by Micron in partnership with ESD, in consultation with a local community advisory committee, will be deployed in four areas: Workforce Development, Education, Community Assets and Organizations, and Affordable Housing.