New York: $1 billion, 600 jobs public-private partnership with Cree
Topics: CREE NEW YORK
Cree will invest approximately $1 billion over six years to construct and equip a new, state-of-the-art, highly-automated world's-first, 200mm silicon carbide wafer fabrication facility.
This investment also includes a $30 million research and development commitment by Cree, with plans to create over 600 full-time highly-skilled technician and engineering positions at the Marcy Nanocenter on the SUNY Polytechnic Institute campus near Utica.
Cree has committed to create over 600 new Cree jobs within eight years and provide internships and research opportunities for State University of New York students.
The efforts help to develop an advanced manufacturing-oriented workforce development initiative across the SUNY system to prepare a 21st century workforce for the long-term, high-quality employment and advancement opportunities the new facility will present.
SUNY has also committed to match up to $5 million in semiconductor-related research funding from Cree for the SUNY system.
Over six years, Cree will invest at least $1 billion through the construction of a state-of-the-art, highly automated silicon carbide fab and the installation of newly acquired and relocated machinery and equipment in Marcy.
As the utilization of the silicon carbide fab grows, Cree will further seek to fit-out and equip the fab.
New York State will provide $500 million in performance-based, capital grants from Empire State Development to reimburse a portion of Cree's costs of fitting out the new facility and acquiring and installing machinery and equipment, as well as $1 million in Excelsior Jobs tax credits.
During construction of the Marcy fab, which Cree has agreed to perform subject to prevailing wage requirements, Cree will also lease space on the SUNY Poly campus in Albany, where the company will utilize equipment purchased as part of the New York Power Electronics Manufacturing Consortium (PEMC) to transition from the current process of producing devices on 150mm silicon carbide wafers to a new process of producing devices on 200mm silicon carbide wafers, which is expected to be the first example of producing devices on 200 mm silicon carbide wafers in the world.
As the fab ramps, Cree will transfer the PEMC equipment and its 200mm process to the SUNY Poly Marcy campus location.
In addition to the more than 600 direct jobs to be created within eight years, the project is estimated to generate approximately 570 indirect jobs and over $4.3 billion in total statewide economic impact over the next 20 years.
Silicon carbide is at the core of helping to power high-growth markets, such as the move from internal combustion engines to electric vehicles (EVs) and the rollout of ultrafast 5G networks.
Silicon carbide-based power electronic devices offer significant efficiency, reliability and performance.
For applications like EVs, this enables greater system efficiencies that result in electric cars with longer range and faster charging, while reducing cost, lowering weight and conserving space. ■