Schumer: Innovation Act a boon for Capital Region
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Capital Region universities, corporate research labs and semiconductor research and manufacturing all stand to gain billions of dollars in federal support under the U.S. Innovation and Competition Act, which passed the Senate with bipartisan support late Tuesday.
U.S. Senate Majority Leader Charles Schumer said the $250 billion measure would have tremendous impact on a number of local institutions, as well as others across the country.
The measure incorporates Schumer s $52 billion CHIPS Act, which would help fund new semiconductor fabrication plants, including one at GlobalFoundries in Malta. The plant likely would be similar in size to GlobalFoundries existing fab, which employs 3,000 workers. It also incorporates Schumer s Endless Frontier Act, as well other bipartisan measures intended to restore the nation s competitiveness.
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Press release: Standing with Rochester Finger Lakes Region business and economic development leaders on Wednesday, U.S. Senate Majority Leader Charles E. Schumer re-upped his push for the Senate to pass his bold, bipartisan initiative next week to propel American leadership in science and technology into the 21st century. The legislation is in the debate process on the floor