Building the Future: How the Federal Tech Hub Funding Will Transform Western and Central New York
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July 18, 2024
The federal funding secured through the Tech Hubs program presents significant economic opportunities for Western and Central New York. This is just the start of what will be a transformative journey for the region, and the Buffalo Niagara Partnership will continue leading the way with its partners in Rochester and Syracuse.
"The collaboration and dedicated work that brought us here serve as the catalyst for this transformational opportunity within the SMART I-Corridor. We have the necessary components to lead the resurgence of advanced manufacturing and semiconductor production in the U.S.” - BNP President & CEO Dottie Gallagher.
Here are a few ways this Tech Hub funding will impact the region.
Strengthening Our Technological Infrastructure
With the creation of the New York Semiconductor Manufacturing and Research Technology Innovation Corridor (NY SMART I-Corridor), we are set to leverage the combined assets of Buffalo, Rochester, and Syracuse. This corridor aims to become a globally recognized hub for semiconductor manufacturing and innovation. The federal investment of $40 million will support key initiatives including workforce development, supply chain enhancements, and technological advancements. By attracting new suppliers and advancing research and development, we will strengthen our position in the global market.
Creating Job Opportunities and Developing Skills
One of the most significant impacts of the Tech Hubs program will be the creation of high-paying jobs in our region. The collaboration among industry leaders, educational institutions, and workforce development organizations will ensure that we have a skilled workforce ready to meet the demands of the growing tech industry. Training programs and partnerships with local universities will be crucial in preparing our workforce for the opportunities ahead.
Boosting Regional Economic Growth
The federal funding and the designation as a Tech Hub will act as a catalyst for regional economic growth. By fostering innovation and supporting the development of critical technologies, we are poised to attract further investments and drive economic prosperity. The economic ripple effects will be felt across various sectors, from manufacturing to research and development.
Dottie Gallagher with Ben Sio and Robert Simpson of CenterState CEO and Joseph Stefko of OneROC
Moving Forward Together
As we move forward, the BNP remains committed to supporting this transformation. We are dedicated to creating an environment that nurtures innovation, attracts investment, and ultimately enhances the quality of life for all residents. We commend our more than 100 collaborators in this effort, with special thanks to Senator Chuck Schumer for his visionary leadership in advancing the legislation that created the Tech Hubs program.
Together, we can pave the way for a brighter, more prosperous future for Western and Central New York.
Catch up on the latest coverage:
- The Editorial Board: Federal funding for an upstate tech hub is a welcome victory
- NY tech hub partners ready to capitalize on $40 million in federal funds
- Semiconductor focus could boost manufacturing, tech job growth in WNY
- $40M federal grant will fund 4 out of 5 semiconductor projects
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