Starting August 15, individuals can submit their Letters of Intent to the Green CHIPS Community Investment Fund. This fund, which is worth $500 million, is a key component of the Green CHIPS incentive agreement between Micron and Empire State Development (ESD). Its primary objective is to support Micron’s $100 billion investment in New York, which could generate approximately 50,000 job opportunities in Central New York.
Join Community Workshops for Expert Guidance and support
ESD, Micron, and the Central New York Community Engagement Committee have organized workshops to provide technical assistance and guidance on submissions for potential applicants. The workshops aim to help applicants understand the Community Priorities Document, which highlights the grassroots priorities for the fund. Attendees can benefit from these workshops to have a better understanding of the application process and improve their chances of securing funding.
Key Focus Areas of the Fund Revealed
The Green CHIPS Community Investment Fund focuses on backing initiatives that promote growth in workforce development, education, community investments, and housing. A key aspect of the fund is ensuring that community needs are at the forefront by encouraging active and meaningful engagement. Projects that align with the immediate priorities outlined in the Community Priorities Document will receive special consideration.
Funding Breakdown
The fund is set to receive a significant boost with Empire State Development pledging $100 million towards it. Capital-based projects which fulfill the eligibility criteria will be able to receive grants exceeding $100,000. Micron, on the other hand, has committed a whopping $250 million towards the fund over the next two decades. Private philanthropy and other sources are expected to contribute an additional $150 million. The investments from Micron’s share will be made by following the Community Priorities Document and in consultation with ESD.
Empowering Change: The Community-Led Effort Making Waves
Local stakeholders and ex officio members of the Central New York Community Engagement Committee played a crucial role in developing the Community Priorities Document. This document is a result of more than 13 months of public engagement involving over 12,700 Central New Yorkers, who have identified the priorities that need to be addressed. The aim of this document is to ensure that the investments made by the fund bring about significant and long-lasting changes in the community.
To be considered, entities must submit a Letter of Intent. ESD and Micron will review these letters starting August 15, 2024, and will continue to do so on an ongoing basis. If the letters align with the program’s goals, the entities will receive an invitation to submit a full application.
Vision for Semiconductor Manufacturing
New York is set to become a global leader in semiconductor manufacturing, thanks to the $10 billion Green CHIPS incentive program. The program not only focuses on sustainability but also community investments. Leveraging federal CHIPS and Science Act opportunities, the initiative has already attracted significant investments from the semiconductor industry, including Micron’s whopping $100 billion investment.
Revolutionary Change: The Transformative Impact Unveiled
Hope Knight, the President, CEO, and Commissioner of Empire State Development, emphasized the transformative potential of Micron’s investment. She promised that the benefits of this investment would be equitable for all Central New Yorkers. Community leaders also noted the fund’s potential to foster inclusive growth and uplift disadvantaged communities across Central New York.