EXECUTIVE Q&A: STEVEN DIMEO, PRESIDENT, MOHAWK VALLEY EDGE
The tight market for brownfield semiconductor fabs is compelling companies seeking additional manufacturing capacity to seriously consider greenfield alternatives. ATREG recently sat down with Steven DiMeo, President of Mohawk Valley EDGE, to discuss what makes the Marcy Nanocenter (MNC) site based in Utica, NY such an attractive greenfield investment opportunity for semiconductor manufacturers.
We’ve heard a lot lately about New York State’s desire to attract semiconductor manufacturing companies to the region. Can you tell us more about what distinguishes the Marcy Nanocenter site from other greenfield sites?
Time-to-market is one major advantage. All permits are in place and infrastructure has been built, or is currently under construction, to support three semiconductor plants on the site. Should a company decide to break ground today, the fab would be ready for equipment by the third quarter of 2019. Another major advantage is New York State’s ability to offer a very competitive incentive package compared to other greenfield locations across the globe, making the Marcy Nanocenter site uniquely positioned as a great alternative to consider.
What criteria does New York State take into consideration when contemplating a greenfield incentive package for a particular company?
The two biggest drivers that Empire State Development (ESD), New York State’s economic development arm, takes into consideration are 1) the number of jobs created and 2) the total capital investment.
Is this opportunity only available for semiconductor companies and suppliers, or can the site accommodate other types of advanced technology companies such as displays, solar, etc.?
The Marcy Nanocenter site is open to all companies involved in advanced electronics manufacturing. This program complements a number of strategic investments that New York State has made with IBM, GLOBALFOUNDRIES, the Power Electronics Manufacturing Consortia (GE and Danfoss), AIM Photonics, Solar City, and the College of Nanoscale Science and Engineering. The development at Marcy Nanocenter leverages these investments to attract R&D, create advanced manufacturing jobs, and continue to grow the New York advanced technology ecosystem.
Can you give us a success story example of a particular company that has set up manufacturing in your region?
In 2009, GLOBALFOUNDRIES began construction of a $4.2 billion chip manufacturing facility in the Capital District, about 90 miles away from the Marcy Nanocenter site. Today, GLOBALFOUNDRIES’ 300mm fab has over $15 billion in public-private investment and employs more than 3,200 people with a payroll of over $300 million. This project has far exceeded New York State’s objectives and provided a model for a return-on-investment that we believe can be duplicated at the Marcy Nanocenter site. GLOBALFOUNDRIES is also doing very well in New York – in September 2016, the company announced a multibillion-dollar investment to refit Fab 8 to produce 7nm FinFET parts starting in the second half of 2018.
How do companies engage with New York State if they are interested in learning more about the Marcy Nanocenter site?
We are in active dialog with a number of semiconductor companies right now, but the site can accommodate multiple large-scale fabs. We would be happy to entertain interest from additional companies that may be contemplating manufacturing expansion. Companies interested in learning more about the opportunity should email Nick Papa at ATREG for an initial discussion.
About Steven DiMeo
Steven has been President of Mohawk Valley EDGE (EDGE) for the past 24 years. EDGE is a not-for-profit corporation that creates public-private sector economic development partnerships in the Utica-Rome, NY Metropolitan Statistical Area (MSA). The company serves as the lead project developer for the 434+-acre Marcy Nanocenter site, working closely with the State University of New York (SUNY) and Empire State Development (ESD) to attract semiconductor and advanced electronics manufacturing firms that would be located at the strategic state-owned site part of the SUNY Polytechnic Institute campus in Utica. Under Steven’s leadership, EDGE has overseen the transformation of Griffiss Air Force Base into what is now Griffiss Business and Technology Park and has been instrumental in the region’s support for business and industry.
Steven received a B.A. degree in political science from SUNY at Albany, NY as well as an M.S. degree in planning and public administration from Georgia State University in Atlanta, GA. He is also a member of Governor Cuomo’s Regional Economic Development Council for the Mohawk Valley region.
As 2017 comes to an end, the ATREG team wishes you a very festive holiday season! On behalf of our valued clients, we will be making donations to the following local and international non-profit organizations:
- The Homelessness Project / The Society of St. Vincent de Paul, who, for the past 180 years, has been leading individuals to join together to offer person-to-person service to the poor and the suffering
- Global Partnerships, an international impact investor with the mission to expand opportunity for people living in poverty via micro-financing
- L’Arche International, an international federation dedicated to the creation and growth of homes, programs, and support networks for people with and without intellectual disabilities to live mutual relationships, share daily life, and build a community together
- Friends of Seattle Mombasa Schools whose mission is to increase understanding about school communities and the lives of the students, teachers, and families in Kenya
Wishing you and yours health, happiness, and success in 2018!
CONNECT WITH US IN Q1 2018
If your company is planning to divest or acquire any infrastructure-rich manufacturing assets or cleanrooms in the coming year, ATREG can help! Members of our team look forward to connecting with you at the following Q1 2018 global industry events:
- Industry Strategy Symposium (ISS), January 15-18, Half Moon Bay, USA
- Goldman Sachs Technology & Internet Conference, February 13-15, San Francisco, USA
- Morgan Stanley Technology, Media & Telecom Conference, February 26-March 1, San Francisco, USA
- ISS Europe, March 4-6, Dublin, Ireland
- SEMICON China, March 14-16, Shanghai, China
Please email us to set up an appointment at any of these events with one of our advisors to discuss your specific manufacturing asset needs.