Blog

Igniting Regional Growth

New York's tech future is taking shape today. New York State Economic Development Council's Economic Development Conference was held on February 11–12, 2025 in Albany. It brought together industry leaders, policymakers, and economic development professionals to discuss the future of New York’s economy. With a strong focus on tech innovation, workforce development, and strategic investment, this event reinforced the state’s commitment to remaining at the forefront of economic transformation.  One of the most highly anticipated sessions, “The Rise of the NY SMART I-Corridor as a Semiconductor Tech Hub” led by Dottie Gallagher, Rob Simpson, and Joseph Stefco, packed the room beyond capacity.

Beyond the NY SMART I-Corridor discussion, the conference highlighted other key initiatives focused on advancing New York’s tech-driven future. Sessions on digital infrastructure expansion, AI-driven workforce development, and smart city innovations showcased the state’s commitment to integrating cutting-edge technology into every sector. Conversations also centered on the importance of aligning education and training programs with industry needs, ensuring that New York’s workforce is prepared for the next wave of innovation.

The collective message across these sessions was clear: New York must continue leveraging technology as a foundation for economic growth, workforce readiness, and global competitiveness.

Driving Semiconductor Innovation

The NY SMART I-Corridor breakout session provided an in-depth look at one of the nation’s most significant economic development wins. Of nearly 400 communities that applied for the federal Tech Hubs program, only 18 initially received a Tech Hub designation along with federal funding. The NY SMART I-Corridor—an economic coalition spanning Buffalo, Rochester, Syracuse, and Ithaca—secured a spot on this exclusive list. With $40 million in federal investment and $8 million from the state, the region is poised to leverage tens of millions more in private investment to accelerate semiconductor research, development, and manufacturing.

While other designated Tech Hubs in the Northeast have semiconductor-related components, the NY SMART I-Corridor remains the only designated Tech Hub in the United States exclusively focused on building a world-class semiconductor industry. This distinction not only validates the region’s strategic importance but also positions it as a critical player in the nation’s efforts to strengthen domestic semiconductor production.

Led by Dottie Gallagher, President & CEO of the Buffalo Niagara Partnership, Dr. Joseph Stefko, President & CEO of OneROC, and Rob Simpson, President & CEO of CenterState CEO, this session delivered a compelling argument for why the Tech Hub designation is a game-changing economic catalyst—one that will drive sustained growth and prosperity for generations to come. Their discussion emphasized how this initiative will create thousands of high-paying jobs, drive technological advancements, and establish New York State as a global leader in the semiconductor supply chain. The session resonated deeply with attendees, reinforcing the urgency of maximizing this unprecedented investment.

Securing Lasting Prosperity

The New York State Economic Development Conference reinforced that bold investments in technology and innovation are not just about economic growth—they’re about securing a prosperous future for generations to come. The NY SMART I-Corridor’s momentum is a testament to the power of collaboration, strategic vision, and public-private partnerships, and its success will have ripple effects across the entire state. With strong leadership from its convening partners including the Buffalo Niagara Partnership, Upstate New York is positioned to become a global semiconductor powerhouse, creating economic opportunities that will benefit businesses, workers, and communities for decades.

To stay up to date with all things NY SMART I-Corridor, visit the website here.