Schumer reveals investment for Wolfspeed that will boost Mohawk Valley expansion, while supporting new jobs at Marcy Nano Center

WASHINGTON, D.C. – A $750 million investment in Wolfspeed was announced this week by U.S. Senate Majority Leader, Charles Schumer (D-NY).

Wolfspeed also said it plans to tap nearly $1 billion from the CHIPS Investment Tax Credit that Schumer helped create to fund much of the state-of-the-art equipment being installed to complete the expansion their Silicon Carbide Fabrication Facility at Marcy Nanocenter in Oneida County.

“Wolfspeed is leading the pack in bringing semiconductor manufacturing back to America,” Schumer said.

"This major multibillion investment powered by my CHIPS & Science Law will accelerate the ongoing expansion in the Mohawk Valley, helping boost hundreds of good paying jobs and providing long term work for the Marcy fab to succeed well into the future."

According to Schumer’s office, Wolfspeed’s Mohawk Valley Fab is the largest and one of the only 200mm Silicon Carbide fabrication facilities in the world. Wolfspeed officially opened their new fab in 2022 and is actively expanding with approximately $790 million in additional capital planned investment in the Mohawk Valley which will help support new good paying manufacturing and construction jobs to the region.

“We thank Senator Schumer for securing $750 million in funding for Wolfspeed from his historic CHIPS & Science Law," said Oneida County Executive Anthony J. Picente Jr.

"This transformative investment will accelerate hundreds of good-paying jobs in Oneida County and further elevate our region as a leader in semiconductor production. As Wolfspeed enhances its capabilities, we look forward to the opportunities this brings for our workforce and our future in the Mohawk Valley.”

For more, be sure to check out Senator Schumer's website.

Image via the office of U.S. Senator Charles Schumer.