Schumer Applauds Major NEW IBM Investment Spurred by $1 Billion FROM HIS Chips & Science LAW to Build NEXT Generation Quantum FAB at Albany Nanotech

Letter of Intent To Award Up To $1 Billion In CHIPS Funding Will Be Matched By $1 Billion From IBM To Establish State-Of-The-Art 300MM Quantum Wafer Fab At Albany NanoTech Planned Quantum Fab Is Made Possible By Schumer’s CHIPS & Science Law Which Senator Wrote And Passed Into Law Which Is Helping Create Thousands Of New Manufacturing Jobs Across Upstate NY From Micron To GlobalFoundries Schumer: IBM’s New Capital Region Fab Will Ensure Next Generation Of Quantum Technology Is Stamped “Made In New York” U.S. Senate Democratic Leader Chuck Schumer today applauded the Commerce Department’s letter of intent to award up to $1 billion in federal CHIPS R&D funding, combined with an additional $1 billion in investment from IBM, to form a new entity to operate a secure 300mm quantum wafer fab at Albany NanoTech. Schumer said this funding, made possible by his CHIPS & Science Law, will help expand America’s domestic manufacturing capacity for the quantum industry. “IBM is bringing the Capital Region to the next frontier of quantum computing! This new multi-billion-dollar quantum fab at Albany NanoTech further shows how the Capital Region is becoming the center of the most advanced technology in the world,” said Senator Schumer. “We are now seeing a renaissance of manufacturing in Upstate NY that all started with my CHIPS & Science Law, and IBM’s next-generation quantum investment will supercharge those efforts. We must continue investing in Albany NanoTech and domestic manufacturing to keep America in the lead, strengthen our economy, and protect our national security.” IBM and the U.S. Department of Commerce are each expected to contribute $1 billion to create a new business to operate a state-of-the-art 300mm quantum wafer fab at Albany NanoTech. IBM will also contribute significant intellectual property, assets, and workforce to the new fab to solidify American leadership in the quantum industry, which is expected to generate $850 billion by 2030. Schumer has worked for years to highlight Albany NanoTech and the Capital Region’s ability to lead the country’s semiconductor and broader technology research and development efforts. Albany NanoTech will be one of two public facilities in the world that have a High NA Extreme Ultraviolet Lithography tool , and the only publicly-owned High NA EUV Center in North America. Schumer explained that the new state-of-the-art EUV facility at Albany NanoTech will help the United States establish dominance in advanced semiconductor research and development, including for quantum technology that today’s CHIPS R&D announcement is supporting. The new $10 billion High NA EUV Lithography Center at Albany NanoTech, made possible with a $1 billion investment from Governor Hochul and New York State, hit a critical milestone earlier this spring with the beginning of the installation of Tokyo Electron’s leading-edge 300mm wafer coater/developer system . Albany NanoTech’s world-renowned capabilities were also central to Schumer and Governor Hochul’s successful effort to secure Micron’s massive $100+ billion megafab project in Upstate NY, with Micron saying Albany NanoTech was a critical factor in their selection of Central NY for their major investment to bring advanced memory chip manufacturing to the U.S. Thanks to Schumer’s efforts and new investments spurred by his CHIPS & Science Law, Upstate NY has become a central hub for America’s semiconductor research and manufacturing. Thanks to Schumer’s CHIPS & Science Law, Upstate New York has seen a major revival in tech manufacturing. In addition to more than $1 billion in CHIPS funding for GlobalFoundries to construct a second, state-of-the-art fab and create a first-of-its-kind advanced chip packaging facility, Micron has broken ground for a historic $100+ billion investment to build a cutting-edge memory fab in Central New York with the support of an over $6 billion CHIPS agreement. Corning Incorporated finalized a $32 million agreement to make a $315 million investment that would increase production at its Canton facility of specialized glass vital for the semiconductor industry. Edwards Vacuum is nearing completion of a new first-of-its-kind-in-the-country $300+ million dry pump manufacturing facility, supported by an $18 million CHIPS funding award. TTM Technologies, a printed circuit board manufacturer, plans to invest up to $130 million to expand its facilities in Onondaga County, creating up to 400 good-paying jobs, supported by $30 million in federal investment that Schumer delivered. Menlo Micro will invest $150 million to build its microchip switch manufacturing facility in Tompkins County, creating over 100 new, good-paying jobs. ###