Syracuse, New York — Governor Kathy Hochul, Senate Majority Leader Charles Schumer, and Micron Technology, Inc. (NASDAQ: MU), one of the world's largest semiconductor companies and the only U.S.-based manufacturer of memory, on Thursday Oct. 27, welcomed President Joe Biden and other federal, state and local officials to Central New York where Micron plans to invest up to $100 billion over the next 20-plus years to build a leading-edge memory megafab. With the signing of the Community Investment Framework, Micron will mark its initial community and workforce commitments established with Empire State Development (ESD). This framework encompasses the $500 million Green CHIPS Community Investment Fund focused on supporting workforce development, education, community assets and organizations, and affordable housing, as well as other initiatives that ensure the Central New York workforce will have the advanced skills needed to sustain leading-edge semiconductor manufacturing.
Micron will invest $250 million in the Fund and an additional $100 million will be invested from New York, with $150 million from local, other state and national partners. The company will also establish a Community Advisory Committee consisting of 11 diverse community members, in addition to representatives from local and state governments as well as Micron. The Committee will identify priorities and prospective areas for investment from the Fund. Through this approach, Micron and ESD aim to better understand and address the needs of the Central New York community and make targeted investments throughout the region. Governor Hochul and Micron CEO Sanjay Mehrotra will sign the Community Investment Framework, alongside local partners, endorsing the spirit of collaboration with ESD to invest in the region. Micron's plans to build a megafab in New York, which will create nearly 50,000 New York jobs including approximately 9,000 high-paying Micron jobs, is the result of the bipartisan work of Congress and the Biden Administration to pass the CHIPS and Science Act.
"Micron's historic $100 billion investment secures a bright economic future for generations of New Yorkers in Onondaga County and across the state, and this transformative project cements New York's manufacturing leadership," Governor Hochul said. "In addition to nearly 50,000 jobs, deep commitments to sustainability, and opportunities for minority- and women-owned businesses and disadvantaged communities, this project's $500 million community fund will sustain the region in the long term with investments in workforce, housing, and infrastructure. I am thrilled that President Biden could join us for this once-in-a-generation announcement, and I look forward to working closely with our local, state, and federal partners, as well as the business and labor communities, to bring one of the largest economic development projects in U.S. history to fruition."
"We are thrilled to welcome President Biden home to Syracuse! Micron's unprecedented $100 billion investment is a once-in-a-generation opportunity for Central New York that will fundamentally transform the region, create tens of thousands of good-paying manufacturing and union construction jobs, strengthen our national security, and breathe new life into America's legacy as a leader in innovation," said Senator Charles Schumer. "Thanks to our CHIPS and Science Bill, and visionary projects like Micron's, manufacturing is coming back to America and places like Upstate New York. This is our Erie Canal moment and will add to Upstate New York's semiconductor corridor from the Hudson Valley and Capital Region to the Mohawk Valley and Rochester to ensure the future is built in Upstate New York. This project will be a national blueprint for what investing in workers, the community, and environmental sustainability looks like - and it is because of the leadership of President Biden that we are now building America's future here in Upstate New York."
"We are honored to host President Biden and many prominent leaders today in Central New York, the future site of Micron's new leading-edge megafab that will fuel U.S. innovation for years to come," said Micron President and CEO Sanjay Mehrotra. "To secure U.S. leadership in semiconductor manufacturing, cultivate American innovation and ensure economic and national security, it is imperative we come together to build and transform a workforce for the future. Our commitments through the Community Investment Framework represent the first foundational steps toward Central New York's transformation."
Building the Workforce of the Future
Both traditional and nontraditional workforce development pathways are critical to train the workforce at the scale necessary for the U.S. semiconductor industry. The workforce of the future will require talented engineers and technicians with diverse skill sets to manage and operate state-of-the-art cleanroom facilities and develop advanced engineering solutions. Micron is committed to effective and creative solutions that expand the workforce and make these careers accessible to all, particularly to individuals in underrepresented and rural communities.
In line with Micron's strategy to partner with leading higher education institutions in the region, Micron and Onondaga County will together invest $10 million, with Micron investing $5 million over 10 years, to build and outfit a cleanroom at Onondaga Community College and support development of the school's technical curriculum. This investment will provide students access to advanced manufacturing methods and equipment to prepare them for technician and engineering roles inside Micron's manufacturing facility.
Micron will also look to tap Central New York's significant military population, a highly skilled and talented pool of labor critical to scale U.S. high-tech manufacturing. In coordination and partnership with Micron, Syracuse University's D'Aniello Institute of Veteran and Military Families (IVMF) will support veteran skill development for advanced manufacturing jobs and transitions into Micron and other industry roles. Micron will also establish an internship program designed to prepare students for full-time positions as engineers, scientists and other critical roles in the semiconductor industry, with recruitment focused heavily on veterans and students from traditionally underrepresented communities. Micron aspires to hire more than 1,500 veterans in the region over two decades in Central New York, aligned with Micron's goals for veteran hiring.
In addition, Micron has entered into a Project Labor Agreement with local trade unions, which establishes a framework for labor-management cooperation and stability throughout the construction of the new megafab. This agreement outlines the use of the Center for Military Recruitment, Assessment and Veterans Employment and its "Helmets to Hardhats" program. It also requires contractors to donate one cent per hour for each craft hour worked on the project to the Pathways for Apprenticeship program, part of Syracuse Build, to promote representation of minorities and women in the project workforce.
As part of Micron's commitment to increase supplier diversity, Micron will work to ensure that 30% of the project's eligible construction spend, and 20% of its eligible ongoing annual operating spend, is awarded to companies owned by individuals from traditionally underrepresented communities, with priority given to New York State Certified Minority/Women Owned Business Enterprises and Service-Disabled Veteran Owned Businesses. Micron will encourage construction contractors and subcontractors to use Syracuse Build as a first-source model to identify candidates for hiring from disadvantaged populations.
Investing in STEM Education For All
STEM education in K-12 through post-secondary schooling and training programs is essential to create a skilled talent pipeline. Micron will invest in local education programs and empower under-resourced youth to pursue careers in STEM to support building a more diverse and inclusive technology industry at large.
As part of Micron's commitment, the company will invest $10 million over 10 years in the Syracuse STEAM school — the first collaborative school in the area designed to integrate the areas of science, technology, engineering, the arts and mathematics — as well as other K-12 programs in the region to reach historically marginalized students and reduce barriers to future STEM careers. The regional facility will offer unprecedented opportunities in emerging technologies and the arts to socioeconomically, racially, and geographically diverse students. This investment will serve as a catalyst for future private developments and collaboration in the region.
Additional Micron community commitments include a partnership with Syracuse University to support new, diverse faculty whose research and teaching will train the workforce of the future through the University's Future Professors Fellowship Program. Micron will also continue supporting engineering education with regional universities including Clarkson, Rensselaer Polytechnic Institute, Cornell and others. The strong network of northeastern universities will enhance the company's existing partnership with Rochester Institute of Technology and further increase representation of student groups throughout the engineering and science pipeline.
Engaging With Local Communities
Micron prioritizes investing in and enriching the communities where its team members live and work. In support of child care and early childhood readiness programs, Micron will make an initial $500,000 investment in the YMCA of Central New York. This investment aims to expand access to high-quality child care and early learning for underserved communities in the region. Micron will continue to partner with the YMCA and other organizations to identify future investments that empower children and families and build an equitable and inclusive community for all.
Micron will launch a $500,000 Museum of Science & Technology (MOST) sponsorship. Micron funds will support a long-term MOST exhibit that provides students and their families with hands-on experiences to learn about semiconductors and their common applications. In addition, Micron will make midwinter- and spring-break MOST science camps available to students at no cost and host a STEM education series, as well as design challenges, that promotes continuous learning.
Micron's focus extends deeper into community infrastructure and services, including plans to invest $10 million in venture funding in partnership with the regional tech ecosystem to support and attract new business to Central New York.
Recognizing that ongoing and productive engagement with the community is critical to the success of both society and innovative companies like Micron, the company plans to host quarterly community town halls to provide opportunities for Clay, Syracuse, and Onondaga County community members to share direct feedback on ways Micron can support their needs.
Additional Micron Commitments
Outside the Community Investment Framework, Micron will continue evaluating ways to support the Central New York region to cultivate the next generation of talent, accelerate economic opportunities for underserved communities, support the region's infrastructure and build a diverse labor pool.
In line with this extended commitment, Micron will establish Syracuse University's Future-Ready Workforce Innovation Consortium at the College of Professional Studies. In partnership with the Central New York business community, trade unions, community colleges and other four-year institutions in New York State and beyond, Micron will collaborate with Syracuse University to implement a multidimensional and inclusive approach to workforce development, upskilling and professional retention.The Future-Ready Workforce Innovation Consortium will foster an ecosystem for skills training, academic and partnership programs designed to support Micron's workforce and talent development strategy.
Micron will continue evaluating opportunities to leverage community and minority financial institutions as the company grows in the region. This includes making $10 million in deposits with Minority Depository Institutions (MDIs) that serve Central New York.
To understand and address the challenges associated with access to affordable housing, Governor Hochul announced that the state of New York will be leading an initiative in partnership with Micron and local governments to further identify policies that support better infrastructure, housing opportunities, social and financial inclusion, and the specific and unique hurdles that will face the Syracuse region. The findings will provide a foundation for both short-term opportunities and long-term strategies that Micron can leverage as a committed community partner.
Micron will further focus on building a bridge between underserved students and STEM careers in Central New York through the company's premier, no-cost STEM education program, Chip Camp, for middle and high school students. The program will reach approximately 70 to 100 students a week, providing them with opportunities to learn how semiconductors are made and how STEM skills translate into Micron careers.
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich lifefor all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.