State Green CHIPs Law

What is happening? Micron chose NY over TX for its $100B chip facility. The choice was made in part by New York’s Green CHIPs law that requires economic development funds be devoted to projects with certain environmental & hiring goals. Micron received state incentives of state tax credits of up to 7.5% of salaries and wages, 5% of project capital expenditures, and 8% of research and development costs. In addition it received $200 M in infrastructure upgrades to roadways.

Why does this matter? One, Texas did not renew its state economic development program known as Chapter 313. Two, the company chose to take on environmental goals and requirements that include renewable power, and buildings that meet  LEED Gold standards.

Route Fifty | Chip Maker Commits Up to $100B for U.S. Manufacturing Site