The semiconductor industry is a major economic contributor both nationally and within New York State. A recent U.S. Semiconductor Industry Association analysis estimated that each direct semiconductor industry job enables 4.89 jobs in other sectors of the economy, with the U.S. semiconductor industry accounting for roughly a quarter of a million direct U.S. jobs and over a million additional indirect jobs.
Since its inception, the semiconductor industry has been an attractive industry to state and local governments around the world. The example of the growth of the economy in Silicon Valley in California, Austin, Texas, Greater Phoenix Arizona, and the Hillsboro region of Oregon are enviable economic models. Not only do the semiconductor manufacturers themselves generate tremendous revenue, but associated spin-off companies and support structure spawn growth.
The employees of semiconductor fabs hold advanced degrees and possess skills necessary to grow the technology field. Semiconductor employers and support industries seek employees with specific scientific skills. Education is a priority for semiconductor companies and its employees. This fact focuses time and money on the educational system and results in more science and math emphasis.
The “clean industry” is how the semiconductor fabs are perceived. Emissions are controlled and water is reclaimed so both do not impact the environment negatively. The clean environment lifestyle is an attraction to the educated, skilled workers sought by the semiconductor fabs. Semiconductor companies work hard to be good neighbors. Every community with a semiconductor company benefits from semiconductor company volunteers to local programs and from donations of equipment and resources to colleges and universities. The growth of amenities in the community is a plus for all residents.
There are 6,000+ projected job openings in STEM and Advanced Manufacturing in the next ten years in the Mohawk Valley region alone.