Schumer makes pitch to Israeli semiconductor company to locate at STAMP
Press Release, U.S. Senate Majority Leader Charles Schumer
Following his continued advocacy to make Upstate NY a global semiconductor manufacturing hub, U.S. Senate Majority Leader Charles E. Schumer personally called Tower Semiconductor CEO, Russell Ellwanger, about the company’s interest in expanding their operations.
Schumer urged the CEO to locate their next semiconductor fabrication plant in Upstate NY. Tower Semiconductor is currently considering New York, along with several other locations, for a new $5 billion semiconductor fab plant that would create up to a thousand jobs.
Schumer said New York boasts several sites across Upstate that are ready to be home to Tower’s next chip fab, from the STAMP campus in Western New York and the White Pine Commerce Park in Central New York, to Marcy Nanocenter in the Mohawk Valley and Luther Forest in the Capital Region. Schumer added that Upstate New York boasts a thriving semiconductor ecosystem, top-notch universities, world-class workforce, and a diversity of companies across the supply chain.
“Tower Semiconductor’s interest in expanding its manufacturing operations in the U.S., and potentially in Upstate NY, is exciting news for the entire state and a potential game changer for the region,” Schumer said. “I made it clear to Tower that I strongly support locating their new semiconductor chip fab in New York. I know firsthand Upstate NY has all of the ingredients to be a global epicenter for semiconductor manufacturing and that is why any of our multiple shovel ready sites from STAMP in WNY, White Pines in CNY, Luther Forest in the Capital Region and Marcy Nanocenter in the Mohawk Valley are the perfect location for Tower Semiconductor’s new chip fab.”
“Our world-class New York workforce and distinguished research institutions, coupled with New York’s considerable experience in semiconductor manufacturing and R&D means Upstate NY is tailor-made to be the home for Tower’s new fab. I stand ready to help Tower in any way for an investment in New York, including securing the federal semiconductor manufacturing and R&D incentives, and further cements New York as a global hub for chip manufacturing.”
Schumer has long emphasized the importance of active federal support for the semiconductor industry including his push to include provisions in the FY2021 NDAA to create new federal semiconductor manufacturing, R&D, and training programs, noting that even though the U.S. revolutionized the semiconductor and broad microelectronics industries and invented nearly all of the key technology used to this day, by 2030, non-U.S. competitors are projected to control 83% of the global semiconductor manufacturing supply while domestic production could be less than 10%, which would be a threat to national security and economic competitiveness.
In June, Schumer successfully passed through the Senate the U.S. Innovation and Competition Act (USICA), legislation he introduced that combined his Endless Frontier Act to make a significant investment in research, development, and innovation, other bipartisan competitiveness bills, and $52 billion in emergency supplemental appropriations to implement the semiconductor-related manufacturing and R&D programs the senator authorized in last year’s National Defense Authorization Act.
USICA also created a program to support legacy chip production that is essential to the auto industry, the military, and other critical industries. Schumer is now working with the House to pass USICA, including the historic federal semiconductor incentives, into law as well as supporting the passage as part of the Build Back Better reconciliation bill of a new 25% tax credit for investments in domestic semiconductor facilities and equipment, modeled after the FABS Act.
Tower Semiconductor is an Israel-based leading foundry of high-value analog semiconductor solutions, and provides technology and manufacturing platforms for integrated circuits in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense.