Green CHIPS – Empire State Development
By passing Green CHIPS, New York has shown that we are ready to do our part to address the national semiconductor chip shortage, and that we can balance economic opportunity with environmental sustainability.
With up to $10 billion in economic incentives for environmentally friendly “Green CHIPS” semiconductor manufacturing and supply chain projects—alongside a host of shovel-ready sites, cutting-edge R&D infrastructure and a talented workforce—New York State offers the semiconductor industry the nation’s most compelling advantages for doing business here.
New York State is leading by offering a State-level, companion incentive to the forthcoming federal CHIPS incentives. The recently passed Green CHIPS legislation will reduce the cost of constructing and operating chip fabs. This new transformative program will help attract thousands of jobs and billions of dollars to cement New York as the nation’s leader in the domestic reshoring of semiconductor manufacturing—all while helping address supply chain shortages, inflation and national security.
Learn more about the nation's first Green CHIPS incentive program with an overview by ESD's President, CEO and Commissioner, Hope Knight.
The state is already uniquely positioned to capture a significant share of the federal CHIPS funding, and thousands of related jobs. We have:
Green CHIPS projects that meet certain eligibility conditions and achieve their promised job and investment commitments will be eligible for significant levels of fully refundable tax credits under Empire State Development’s Excelsior Jobs Program, a pay-for-performance program in which companies receive tax credits as they meet annual job and investment commitments.
With robust R&D, tech and talent, New York State is growing the electronics industry from semiconductors and photonics to nanotechnology.
New York State is home to nation-leading infrastructure, resources, expertise, and workforce to lead the effort for manufacturing and research & development in the semiconductor industry.
ESD welcomes comments at: [email protected].
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