$500 Million Investment to Benefit Central NY Communities

The Green CHIPS Community Investment Fund, part of the Green CHIPS incentive agreement between Micron and Empire State Development (ESD), will begin accepting Letters of Intent on August 15. This $500 million fund is designed to boost Micron's $100 billion investment in New York, expected to create nearly 50,000 jobs in Central New York.

Community Workshops to Provide Guidance

To aid potential applicants, ESD, Micron, and the Central New York Community Engagement Committee will host workshops offering technical assistance and guidance on submissions. These workshops will help applicants understand the Community Priorities Document, which outlines the grassroots priorities for the fund.

Focus Areas of the Fund

The Green CHIPS Community Investment Fund aims to support projects in four key areas: workforce development, education, community investments, and housing. The fund emphasizes meaningful, ground-up participation, ensuring community needs are at the forefront. Special consideration will be given to projects aligning with the immediate priorities outlined in the Community Priorities Document.

Funding Breakdown

Empire State Development is contributing $100 million to the fund, with capital-based projects eligible for grants over $100,000. Micron is committing $250 million over the next 20 years, with an additional $150 million expected from private philanthropy and other sources. Investments from Micron’s portion will be guided by the Community Priorities Document and made in consultation with ESD.

Community-Led Effort

The Central New York Community Engagement Committee, composed of local stakeholders and ex officio members, played a pivotal role in creating the Community Priorities Document. This document is based on over 13 months of public engagement with more than 12,700 Central New Yorkers, identifying priorities to ensure the fund's investments create meaningful, lasting changes.

Application Process

Interested entities must submit a Letter of Intent for initial consideration. These letters will be reviewed on an ongoing basis starting August 15, 2024, by ESD and Micron. Those that align with program goals will be invited to submit a full application.

Vision for Semiconductor Manufacturing

The $10 billion Green CHIPS incentive program aims to make New York a global leader in semiconductor manufacturing while ensuring sustainability and community investments. This initiative, leveraging federal CHIPS and Science Act opportunities, has attracted historic investments from the semiconductor industry, including Micron’s $100 billion investment.

Transformative Impact

Empire State Development President, CEO, and Commissioner Hope Knight highlighted the transformative potential of Micron’s investment, promising equitable benefits for all Central New Yorkers. Community leaders emphasized the fund's potential to foster inclusive growth and uplift disadvantaged communities across Central New York.