U.S. Invests $825 Million in Albany Semiconductor Hub

The Biden administration has announced an $825 million investment in Albany, New York, to establish the National Semiconductor Technology Center (NSTC) aimed at enhancing the U.S. semiconductor industry. This facility, part of the Albany NanoTech Complex, will focus on extreme ultraviolet (EUV) lithography, a critical technology for advanced chip manufacturing. Secretary of Commerce Gina Raimondo emphasized that this initiative is vital for national security and maintaining technological competitiveness. The NSTC will facilitate collaboration between industry and academic researchers, potentially creating numerous high-tech jobs in the region. This funding aligns with the CHIPS and Science Act, marking a significant federal push to bolster domestic chip production and reduce reliance on foreign supply chains. The facility is expected to become operational next year, contributing to the goal of producing 20% of the world's advanced semiconductors in the U.S.