Chemical manufacturer invests $50 million to strengthen semiconductor manufacturing supply chain in New York
Niacet Specialty Chemicals has announced plans to expand its existing facility in Niagara Falls, New York. The company, which manufactures a compound that is used in semiconductor production, will invest $50 million into the project, generating 36 new jobs for the surrounding area. The company hopes this investment will strengthen the semiconductor manufacturing supply chain in New York State. The facility currently produces anhydrous hydrogen chloride (aHCL), which is necessary to create epitaxial semiconductor wafers and is used to etch semiconductor crystals. To help support the project, the company will receive $3 million in performance-based Excelsior Jobs tax credits from Empire State Development.
What people are saying
In a recent quote, Governor Kathy Hochul said, “Niacet’s $50 million investment in Niagara Falls is the next step toward growing our chipmaking potential in Western New York and across New York State. As far away as Ireland, businesses are taking note of New York’s thriving semiconductor ecosystem and I am committed to helping them build and grow a presence here to strengthen our supply chain, drive our economy into the 21st century, and create good-paying jobs for New Yorkers.”
Senate Majority Leader Charles Schumer added, “This $50 million job-creating investment by Niacet Chemicals in Niagara Falls is another win for the growing semiconductor supply chain industry along Upstate NY’s Tech Hub, and builds on the billions I have delivered from my CHIPS and Science Act to transform Upstate NY into a global hub of the chips industry. I applaud Niacet for recognizing this potential and will work with them to secure targeted and impactful federal investment. I thank Governor Hochul and local leaders for their partnership in helping secure this investment. With each week it becomes clearer the future of semiconductor manufacturing will be in Upstate NY.”
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