Gov. Kathy Hochul reaffirmed support for upstate New York’s semiconductor industry during her State of the State address, spotlighting the federally designated tech hub along the I-90 corridor. This initiative, anchored by Micron’s investment, aims to draw more semiconductor projects with state-backed incentives.
Hochul’s proposal includes expanding the Excelsior Tax Credit program to offer 7% credits for job creation and 3% for investments. Industry leaders, like Invest Buffalo Niagara CEO Tom Kucharski, emphasized the importance of shovel-ready sites with strong infrastructure to attract companies and praised the tax credit expansion as a proven economic tool.
The plan complements federal efforts, including the ONSHORE Act, recently signed into law. Kucharski underscored the need for collaboration across federal, state, and local levels to sustain the industry’s growth.
MORE COVERAGE: State of the State 2025 – Proposals and reaction!
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to news@fingerlakes1.com.