Most of President Joe Biden’s March 7 speech to a joint session of Congress centered on domestic issues, but he also announced one construction-related overseas action.
The state funds are earmarked for construction at the Albany NanoTech Complex and purchase of advanced equipment for semiconductor chip research and development.
Officials attribute the rise in manufacturing construction spending to the CHIPS and Science Act and other legislation that has incentivized private investment.
The tech equipment maker says the amount of its investment in the California project is contingent on the federal funding it receives via the Chips and Science Act.
The U.S. Commerce Dept. launched first funding opportunity for semiconductor chip producers seeking to build, expand or modernize plants using money from the Chips and Science Act.