Onondaga County lawmakers are taking a step toward purchasing property to support the semiconductor supply chain. They’re acting on the request of the county executive’s office which wants to remove barriers for companies to locate here.
Micron alone works with as many as 900 vendors. Deputy County Executive Bob Petrovich told the legislature’s economic development committee Wednesday there’s plenty of potential.
“We are in talks with a number of different companies," Petrovich said. "Even if we get potentially five or ten percent of those 900 companies will be a significant impact to the Community.”
The county executive wants to loan the industrial development agency $27 million from the county’s fund balance to buy land on behalf of the companies. Petrovich said it eliminates a hurdle for companies, mainly from Asia, who are unfamiliar with doing business in the U.S.
“Some of these are family owned companies that are privately held and are kind of reluctant to jump across the ocean and make significant capital investments," Petrovich said. "I think one of the things that we're trying to do is help them and assure them that you have a place to go that we can work with you.”
Petrovich said the practice is happening in other locations across the country that are also home to semiconductor manufacturers. He said it’s important to establish the supply chain first.
“Typically three to six months before the fab is ready for equipment, the supply chain provider for Micron and others would need to be able to turn the lights on and function," Petrovich said. "So we have probably a 24 month window. We're actively working on attracting those businesses to the area.”
Petrovich said the county expects to make up some of the $27 million cost through property and sales tax revenue generated by the industry and population growth. The planning and economic development committee sent the fund balance request to the legislature's ways and means committee for consideration.
