Schumer Applauds Finalized Ibm Investment Spurred by $1 Billion From His Chips & Science Law to Build Next-Generation Quantum Fab at Albany Nanotech

Washington, D.C. – U.S. Senate Democratic Leader Chuck Schumer today applauded the finalization of the U.S. Commerce Department’s agreement 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: “I’m thrilled that IBM has finalized and fully secured up to $1 billion in federal funding to launch a brand-new, cutting-edge quantum business in the Capital Region. After years of advocacy, this major investment further cements Upstate New York as the center of this critical industry and will ensure that the world’s most advanced quantum technologies are made in the Capital Region,” said Senator Schumer. “I’m proud that Upstate communities continue to directly benefit from the billions in federal R&D funds I secured in my CHIPS and Science Law. We’re creating good-paying jobs, building next generation technologies, and making sure that America leads the world, not China.” 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 year 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, GlobalFoundries earlier this summer received a letter of intent from the Department of Commerce to award up to $300 million in CHIPS funding for accelerating domestic silicon photonics research and development to support artificial intelligence (AI) infrastructure and just last week finalized an agreement for up to $375 million in CHIPS funding to launch Quantum Technology Solutions, a new quantum business within GlobalFoundries that will position America at the forefront of technology innovation. Micron has broken ground on 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. ###