ALBANY, N.Y. (NEWS10) — Just days after President Joe Biden signed the CHIPS Act, Senate Majority Leader Chuck Schumer joined Governor Kathy Hochul in Albany to sign New York State’s $10 billion Green CHIPS bill.

“What this is going to do is off set the cost of developing a semiconductor plant and we are going to do it in a very green way,” stated Hochul. “These incentives are going to be used for creating green vehicles, energy storage, clean energy, but also the process of creating these chips has to be clean too.”

The state will be requiring companies to use renewable energy for these projects.

“I want to make sure that every major chip company hears our message loud and clear: New York and Upstate New York is ready to power the future of America’s microchip industry,” said Senator Schumer.
“Because of our work, the future of chip manufacturing will be in Syracuse, not Shanghai. Batavia, not Beijing. The Capital Region, not China. Isn’t that a great thing for all of us?”

The governor said thanks to the newly signed federal and state legislation, New York will have a competitive advantage over other states also looking attract these types of companies.

New York is already home to some chip manufacturers such as Global Foundries which will be expanding its Upstate New York facility with funding from the federal government.