Hochul announces $50M investment from Niacet Specialty Chemicals into Niagara Falls plant – Spectrum News
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Gov. Kathy Hochul is continuing efforts to make New York state a global hub for the semiconductor industry.
The governor on Friday announced that Irish manufacturer Niacet Specialty Chemicals is investing $50 million in its Niagara Falls, New York facility.
The company produces food preservation products and a compound used in the semiconductor chip manufacturing process.
Empire State Development will be providing $3 million in performance-based Excelsior Jobs tax credits to support the project. Niacet Specialty Chemicals has also applied for funding through the CHIPS and Science Act.
The investment will not just increase its overall production locally, but it will also create 36 new jobs. The plant currently employs about 100 people.
“Niacet’s $50 million investment in Niagara Falls is the next step toward growing our chipmaking potential in Western New York and across New York State,” Hochul said in a statement. “As far away as Ireland, businesses are taking note of New York’s thriving semiconductor ecosystem and I am committed to helping them build and grow a presence here to strengthen our supply chain, drive our economy into the 21st century, and create good-paying jobs for New Yorkers.”