U.S. Senate Majority Leader Chuck Schumer (D-NY) announced Monday that Buffalo, Rochester, and Syracuse have been recognized as part of the NY SMART I-Corridor Tech Hub by the U.S. Economic Development Association. This designation heralds a potential influx of federal funds to develop a 300-mile tech corridor from Buffalo to Syracuse, boosting the region’s technological infrastructure and standing in the global tech landscape.
Micron, a key player in the tech industry, has pledged a colossal $100 billion investment over the next 20 years to erect a chip fabrication plant in Clay, near Syracuse. Regions like these now have the responsibility to outline their plans on the utilization of federal funds to realize their technological aspirations. Schumer, envisioning the corridor as a “semiconductor super-highway,” expects the initiative to lure more tech giants, especially those keen to collaborate with Micron, and stimulate further industrial growth.
In a related development, construction on the anticipated Li-Cycle electric vehicle battery facility in Rochester has been momentarily halted. Previously, the facility aimed to position Li-Cycle as a national leader in battery material supplies. Despite the interruption, the project continues to maintain close ties with the U.S. Department of Energy and its generous $375 million loan commitment.
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