Governor Hochul’s Innovation Agenda

The partnership builds on Governor Hochul’s commitment to driving innovation across New York State to attract major employers and create good-paying, 21st century jobs. As part of her FY25 Enacted Budget, the Governor secured a $275 million investment in Empire AI, a consortium of seven founding institutions that will create and launch a state-of-the-art artificial intelligence computing center in Buffalo that will put New York State at the cutting-edge of AI research.

Governor Hochul also signed New York’s historic Green CHIPS legislation to drive semiconductor research, development, and manufacturing in New York State and announced a $10 billion partnership to bring next-generation chips research to NY CREATES’ Albany NanoTech Complex. By leveraging federal CHIPS and Science Act incentive opportunities with state funding, the Governor's initiatives have unlocked historic investments from the semiconductor industry, including a $100 billion investment from Micron to build a world-class chipmaking facility and create 50,000 jobs in Central New York, as well as investments from GlobalFoundries, IBM, TTM Technologies, and other semiconductor and supply chain businesses.

In addition, the Governor has continued to advance a $620 million Life Science Initiative to support innovation in biomedical research. And through strategic investments like the $113.7 million Battery-NY initiative, Governor Hochul has fueled the growth of the sustainability, green technology, and energy storage economies in New York State.

The Governor’s innovation agenda has catalyzed major public and private investments, transforming New York’s economy and creating good-paying jobs of the future. GlobalFoundriesrecently announced an $11.6 billion investment to expand its chip manufacturing campus in New York’s Capital Region, creating 1,500 direct jobs and thousands of indirect jobs. In 2022, Micron announced a 20-year, $100 billion investment to create a megafab campus in Central New York, creating 50,000 new direct and indirect jobs and unlocking hundreds of millions of dollars in community benefits. The Governor’s Life Science Initiative helped to solidify New York’s selection for the $300 million Chan Zuckerberg Biohub New York, a biomedical research hub in New York City, and significant investments from Schrödinger, Inc., Deerfield Discovery and Development, and other life sciences businesses. Earlier this year, the National Science Foundation also announced a $160 million investment in Binghamton University’s New Energy New York Storage Engine to establish a hub for innovation, technology translation, and workforce development to grow the capacity of the domestic battery industry.