Semiconductor manufacturer Micron will invest $250 million into a community investment fund to support workforce development, education, local community groups and affordable housing in Central New York, Micron CEO Sanjay Mehrotra said Thursday at Onondaga Community College.
The community fund investment from Micron, who is investing $100 billion over 20 years into a chip plant in Clay, will be matched by $100 million from the state and $150 million from local and other state and national partners, Sen. Chuck Schumer's office said in a statement.
Schumer and Micron officials were joined Thursday by President Joe Biden at Onondaga Community College to highlight the Micron deal and the CHIPS Act passed earlier this year, legislation Schumer has said was critical to securing Micro's commitment to upstate New York.
An advisory committee made up of community members, Micron officials and state and local government representatives will identify the projects supported by the community fund, Schumer said.
Government officials have hailed Micron's announcement that it would bring 9,000 jobs to CNY, made earlier this month, as a game-changer for the region.
"Our commitments through the Community Investment Framework represent the first foundational steps toward Central New York's transformation," said Mehrotra.
The YMCA of Central New York announced Thursday it received an initial $500,000 investment from Micron to expand access to child care and early learning to underserved communities in CNY.
"We are looking forward to building our collaborative partnership with the Micron team to impact our community further," said Bertram L. Lawson II, president and CEO of the YMCA of Central New York.