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ATREG assists client Mohawk Valley EDGE with securing Cree as latest manufacturer to join New York State’s semiconductor ecosystem

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U.S. semiconductor powerhouse to build greenfield silicon carbide facility on Marcy Nanocenter campus and create an estimated 614 direct new local jobs by 2027

Seattle, Wash., September 24, 2019 – ATREG, Inc., which specializes in helping global companies divest and acquire infrastructure-rich advanced technology cleanroom assets, announced today that as marketing agent for Mohawk Valley EDGE, an economic development organization in Oneida County, New York, it has assisted its client and the state of New York with securing Cree, Inc. (Nasdaq: CREE) as a new manufacturer to join New York state’s leading-edge semiconductor ecosystem. The major public-private partnership between the State of New York and Cree will contribute $1.2 billion over six years to build a state-of-the-art 200mm silicon carbide (SiC) wafer fabrication plant, invest $30 million on research and development, and employ at least 614 full-time employees at the Marcy Nanocenter on the SUNY Poly campus near Utica, New York. Upon completion of the fab in 2022, the new facility is expected to cover approximately 500,000 square feet, including 100,000 to 135,000 square feet of cleanroom space.

Greenfield Marcy Nanocenter, Utica, NYAccording to an economic impact analysis conducted by Empire State Development (ESD) in partnership with REMI, Inc., a world leader in dynamic forecasting and policy analysis, over the first 20 years of Cree’s 49-year lease, the project is estimated to create nearly 1,200 new direct and indirect full-time jobs, over 2,600 construction jobs, over $185 million in new state and local tax revenue, and over $3.7 billion in total economic impact.

“The remit of our client Mohawk Valley EDGE was clear – bring world-class technology players to the Marcy Nanocenter greenfield site to help address the growing demand from automotive, communications infrastructure, and industrial markets,” explains Stephen Rothrock, president and CEO of ATREG. “Cree is a U.S. semiconductor powerhouse specializing in one of the most promising technologies with applications in two of today’s highest-growth sectors – electric vehicles and 5G. ATREG is honored to contribute to reinforcing New York state’s position as a leading U.S. innovation hub in power electronics and radio frequency (RF). We look forward to bringing more high-caliber technology players to the upstate New York campus in coming months.”

“The ATREG team has been instrumental in helping us secure this new addition to Mohawk Valley’s growing technology industry,” adds Steve DiMeo, president of Mohawk Valley EDGE. “Today’s manufacturers are always looking for better, smarter ways to produce vital electronics components. Cree’s high-voltage power electronic devices are more compact, efficient, and cheaper to produce. ATREG’s deep knowledge and understanding of the global semiconductor supply chain combined with their long-standing relationships with the world’s executive technology leaders helped us identify and facilitate the right match. It’s a win-win for all!”

ATREG is no stranger to boosting New York’s semiconductor supply chain. In April 2019, the company facilitated another high-profile transaction, namely the acquisition by ON Semiconductor Corporation of the operational 300mm fab located in East Fishkill, New York.

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About ATREG, Inc.

Headquartered in Seattle, USA, ATREG, Inc. specializes in helping companies divest and acquire infrastructure-rich advanced technology manufacturing assets, including front-end and back-end semiconductor fabs, cleanroom facilities, and technology campuses in North America, Europe, and Asia. For more information, please visit our web site, read our blog, or follow us on LinkedIn and Twitter.

About Mohawk Valley EDGE

Mohawk Valley EDGE (Economic Development Growth Enterprises Corporation) is a vertically integrated economic development organization that assists businesses in locating, growing, and prospering in Oneida and Herkimer Counties. A private, not-for-profit corporation, EDGE is an integral part of the long-term effort by the public and private sectors to strengthen opportunities and open the door for new and existing businesses and industries to locate and grow within the region. For more information, please visit our web site.