Governor Hochul and Majority Leader Schumer Announce Major Semiconductor Supply Chain Manufacturer Edwards Vacuum to Build $319 Million Facility in Genesee County

Governor Kathy Hochul and U.S. Senate Majority Leader Charles Schumer today announced that Edwards Vacuum, a British-based world leader in vacuum and abatement equipment in the semiconductor industry and part of the Atlas Copco Group, has chosen the Western New York Science & Technology Advanced Manufacturing Park located in Genesee County, as the location for their new $319 million, U.S. dry pump manufacturing facility. The dry pump technology that will be produced at the new facility is a vital component to controlling the highly sensitive environment of semiconductor manufacturing processes. Phase One of Edwards Vacuum's 240,000 square-foot campus include manufacturing, warehouse and administration. This new commitment from a global leader in the semiconductor manufacturing supply chain to invest in New York State builds on the announcement that Micron is investing an unprecedented $100 billion in Central New York.

"This major investment from Edwards Vacuum builds on our momentum to secure New York as a leader in semiconductor manufacturing," Governor Hochul said. "On the heels of Micron's $100 billion commitment to Central New York, as well as New York's Green CHIPS legislation and the federal CHIPS and Science Act, we are better positioned than ever to make New York a global hub for advanced manufacturing and attract the jobs of the future. I am thrilled to welcome Edwards Vacuum to Genesee County and look forward to working with them, as well as our local, state, and federal partners, as they make New York their home."

"The CHIPS And Science Act delivers for Upstate New York again," said Senate Majority Leader Charles Schumer. "I am thrilled to announce Edwards Vacuum, a major player in semiconductor supply chain, will soon power Genesee County with an over $300 million plant and 600 good-paying jobs! From Micron's major investment in Central NY and Wolfspeed's new fab in Marcy, to onsemi soon beginning in the Hudson Valley and GlobalFoundries building a new fab in the Capital Region, and now Edward's supercharging our semiconductor supply chain at Western New York's STAMP site, Upstate is becoming the global hub for the chip industry. I told Edwards Vacuum's top brass last month there was no better site than STAMP to locate a new plant and I'm glad they heeded my call. With my CHIPS and Science Act as the lighting rod, we are now seeing energy flow into Upstate's manufacturing sector like never before, and this investment will further cement that the future of microchips will be built with American made products, crafted by New York workers."

Edwards' Semiconductor business President Kate Wilson, said, "I am delighted that we are announcing this new facility in the state of New York. Against a backdrop of growing demand, clearly showing a greater need for investment in manufacturing capabilities that are located close to our customers, we continue to commit significant investment in our operational footprint. This is critical to ensure we retain our position as the vacuum and abatement partner of choice to the global semiconductor industry."

Edwards Vacuum will provide internal training and education, allowing every employee to explore and advance their career opportunities. Additionally, Edwards is committed to recruiting entry-level employees from disadvantaged communities and partnering with existing community-based recruitment and training programs, to provide both soft skills and technical skills that will provide employment opportunities that have not been available in those communities previously.

The Western New York Science & Technology Advanced Manufacturing Park (STAMP) is a 1,250-acre mega site at the forefront of green manufacturing growth in New York. Developed to provide high-capacity, low-cost renewable electricity in a strategic location in the Buffalo-Rochester Tech Corridor, STAMP has attracted over $500 million of investment by innovative companies. With over 500 available buildable acres on-site, 1.1 million people within 30 miles, and 30,000 annually enrolled engineering students at nearby colleges and universities, STAMP is positioned to accelerate New York's growing semiconductor manufacturing, advanced manufacturing, and renewables manufacturing industries.

Empire State Development President, CEO and Commissioner Hope Knight said, "Attracting supply chain partners in the semiconductor industry is key building a stronger ecosystem in New York State. Edwards Vacuum's choice of STAMP for its new facility further cements New York State as a leader in the semiconductor industry."

New York Power Authority Interim President and CEO Justin E. Driscoll said, "Edwards Vacuum's STAMP investment is a testament to New York's emergence as a global leader in semiconductor manufacturing. Securing reliable supply chain partners is critical to the semiconductor industry, and projects like this showcase the unique attributes of New York that will help the industry grow here."

As part of the agreement with Edwards Vacuum, ESD has offered up to $21 million in a combination of performance-based Excelsior Jobs Tax Credits, Investment Tax Credits and an additional $1 million to support Workforce Development and the training of a Diverse and Inclusive Workforce in exchange for 600 new full-time jobs at the location Additionally, the New York Power Authority Board of Trustees will review an application for low-cost Niagara hydropower at a future public meeting.

Edwards Vacuum is anticipated to apply for agreements at a later date with the Genesee County Economic Development Center to support the company's investment at STAMP through property, sales, and mortgage tax assistance. The request would support the largest workforce and capital investment proposed by any company at a GCEDC-developed site.

Last month, Senator Schumer personally called Edwards Vacuum President, Geert Follens, to urge the global semiconductor supply chain company to expand in Upstate New York. Senator Schumer's bipartisan CHIPS and Science Act, creates an Investment Tax Credit for semiconductor manufacturing facilities and supply chain partners such as Edwards Vacuum as well as a first of its kind $52 billion in federal incentives to spur American semiconductor research, development, manufacturing, and workforce training to bring good-paying jobs back from overseas, strengthen national security, and reestablish America's technological leadership. The bill requires recipients of these incentives to make significant worker and community investments that support equitable economic growth. Edwards Vacuum is expected to also apply for incentives under the CHIPS and Science Act. Schumer has long supported STAMP's development and to attract new semiconductor and advanced manufacturing companies to locate at STAMP. Schumer said these new federal and state investments are creating a new 'Erie Canal' across upstate New York by attracting thousands of new jobs in the semiconductor industry from the Hudson Valley to Western New York's STAMP.

Semiconductors, and their supply chain partners, are vital to the nation's economic strength, serving as the brains of modern electronics, and enabling technologies critical to U.S. economic growth, national security, and global competitiveness. The industry directly employs over 277,000 people in the U.S. and supports more than 1.8 million additional domestic jobs. Semiconductors are a top five U.S. export, and the industry is the number one contributor to labor productivity, supporting improvements to the effectiveness and efficiency of virtually every economic sector — from farming to manufacturing. Earlier this year, Governor Hochul signed New York's nation-leading Green CHIPS legislation into law to attract top semiconductor manufacturing businesses to the state and secure commitments to good-paying jobs, sustainability, and community benefits.

Supply chain issues and a decline in the United States' share of global chip production are causing undue hardships to every aspect of the economy. This erosion of U.S. chip production capacity puts the nation at a strategic disadvantage in several critical areas, including national security, technological innovation, and economic growth and independence. Because more than 300 industries use chips — from cars to cellphones — their scarcity drives up prices of other consumer goods. Edwards Vacuum's new facility will position New York State as a national leader in reshoring vital semiconductor jobs to the U.S.

Representative Joe Morelle said, "This is exactly the type of investment the federal CHIPS and Science Act I helped pass was intended to facilitate. We're taking concrete steps to strengthen our supply chain, enhance manufacturing, and grow our local economy—bringing good-paying jobs to our community. I have long been a supporter of the STAMP facility, and I'm grateful to Governor Hochul, Senator Schumer, and my partners in government for their commitment to investing in the future of our community."

Genesee County Legislature Chair Shelley Stein said, "We are so proud that STAMP will be the location of the largest economic development investment in the history of Genesee County. On behalf of my colleagues in the Genesee County Legislature we welcome Edwards Vacuum to our community and look forward to their success here and the career opportunities they will provide for our hard-working residents. This announcement demonstrates the diligent focus of Genesee County to plan, prepare and welcome 21st century manufacturing to our county."

Town of Alabama Supervisor Rob Crossen said, "Our shared vision through the development of STAMP is to play a role in bringing new jobs and investments to Genesee County and to improve the quality of life for our residents. The latter has begun through enhanced infrastructure improvements, especially as it pertains to water services, and we're pleased that STAMP and our community is attracting advanced manufacturing companies and good paying jobs."

Finger Lakes Regional Economic Development Council Co-Chairs, Greater Rochester Chamber of Commerce President and CEO Bob Duffy and SUNY Geneseo President Denise Battles said, "We congratulate Edwards Vacuum on this incredible project, and welcome them to the state-of-the-art Western NY Science, Technology and Advanced Manufacturing Park in Genesee County. These top-quality jobs will help to energize the regional economy, furthering its reputation as the center of technology and progress.

Steve Hyde, Genesee County Economic Development Center President & CEO, said, "There is a saying that economic development is a marathon and not a sprint and that has been our approach to STAMP ever since it was a concept on paper over a decade ago. That's why it is so gratifying to see how that steady and purposeful approach is resulting in a significant return on the investment that has been made through the years by our public and private sector partners and in particular by Senator Schumer and Governor Hochul by this announcement today. This announcement shows that STAMP and our region are the ideal location for semiconductor industry growth."

Greater Rochester Enterprise President and CEO Matt Hurlbutt said, "Edwards Vacuum, an innovative vacuum equipment manufacturer that serves the semiconductor industry, is expanding at the Western New York Science and Technology Advanced Manufacturing Park in the Greater Rochester, NY region to capitalize on this mega site's unique infrastructure, which includes reliable, low-cost hydropower and unlimited water supply. Rochester, NY is also attractive because of the concentration of highly skilled talent with mechanical and electrical engineering expertise and regional workforce development partners who offer stackable credential programs and certificate programs to train Edward Vacuum's future workforce. GRE connected Edwards Vacuum to numerous economic development resources to support this expansion in Rochester and will continue to support the company as this project unfolds."

Paul Brown, President of the Buffalo and Eric County Construction Trades Council said, "Governor Hochul continues to deliver on high scale projects that will result in union construction jobs for our highly trained and skilled trades workers. New York State's investment at STAMP and Senator Schumer's advocacy to bring advanced manufacturing companies there will transform the economic landscape across western New York for generations to come."

This major investment adds to New York's already robust semiconductor industry. In addition to Micron's major $100 billion investment in Central New York, New York has multiple global industry chip leaders like GlobalFoundries, Wolfspeed, onsemi, and IBM. New York is also home to the world-renowned Albany Nanotech Complex, which is a multibillion-dollar public-private partnership, comprising the most advanced, publicly owned, 300-millimeter semiconductor research and development facility and bringing together premier universities and leading industry players to drive cutting-edge chip development. Because of the tireless advocacy of Governor Hochul and Senator Schumer, semiconductor supply chain companies like Edwards are also growing as well. Earlier this year Corning Incorporated invested $139 million, creating over 270 new jobs in Monroe County to meet the demands of the growing semiconductor market.

About Edwards Vacuum
Edwards is the leading developer and manufacturer of sophisticated vacuum products, exhaust management systems and related value-added services. These are integral to manufacturing processes for semiconductors, flat panel displays, LEDs and solar cells; are used within an increasingly diverse range of industrial processes including power, glass and other coating applications, steel and other metallurgy, pharmaceutical and chemical; and for both scientific instruments and a wide range of R&D applications.

Edwards has more than 8,000 employees worldwide engaged in the design, manufacture and support of high technology vacuum and exhaust management equipment and has state-of-the-art manufacturing facilities in Europe, Asia and North America.

Edwards is part of the Atlas Copco Group (NASDAQ OMX Stockholm: ATCO A, ATCO B), a Sweden-based provider of industrial productivity solutions.

Further information about Edwards can be found at www.edwardsvacuum.com

Accelerating Finger Lakes Forward
Today's announcement complements "Finger Lakes Forward," the region's comprehensive blueprint to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative. The State's $500 million investment will incentivize private business to invest well over $2.5 billion - and the region's plan, as submitted, projects up to 8,200 new jobs. More information is available here.

About Empire State Development
Empire State Development is New York's chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the New York State Regional Economic Development Councils and the marketing of "I LOVE NEW YORK," the State's iconic tourism brand. For more information on Regional Councils and Empire State Development, visit http://www.regionalcouncils.ny.gov/ and http://www.esd.ny.gov/.