It’s October of a re-election yr, so Gov. Kathy Hochul is boasting of plans to carry a enormous chipmaking manufacturing facility to Upstate — again.
Mind you, the big Micron plant close to Syracuse she announced 4 years in the past is still years off, after repeated delays — and where its energy will come from stays a thriller, too.
At least that deal was official that October; now she’s attempting to win votes merely by speaking about her hopes for a second plant.
The gov this week boasted to an upstate editorial board that she means to construct a semiconductor cluster in upstate New York to rival Silicon Valley by following up Micron with another chip megafactory, this one in Oneida County.
Yet she’ll want President Donald Trump to get on board, since she’ll want billions in federal subsidies on prime of state ones to get any main producer to think about increasing in New York, with its excessive taxes, costly electrical energy and heavy laws, particularly environmental ones.
Micron’s bribe bundle totals $25 billion in authorities subsidies for just the first part, and it’s still taking its time.
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Now state officers appear to be chasing a $45 billion proposal with a thriller firm — probably Solidigm, a subsidiary of South Korea’s SK Hynix — to construct two fabrication vegetation and 5,000 jobs down the street (about half what’s promised from Micron in the by-and-by).
Give Hochul this much: She’s making her predecessor, Andrew Cuomo, look like a piker with his Buffalo Billion “investments” — which also didn’t pan out.
(Not to point out how his plans for an Upstate high-tech hub wound up with a corruption scandal that despatched some of his closest associates to jail.)
On the other hand, Hochul may be even more two-faced, since she’s concurrently bragging about banning new knowledge facilities — another facet of the same tech financial system.
It’s all principally a rip-off, in any case: Even if these enormous subsidies create a few new jobs in the state, at the price of firms already here whose taxes will have to fund the bribes, it doesn’t change the enterprise surroundings that makes these subsidies vital.
Hochul figures voters are too dumb to determine that out; if she’s proper, New York’s downward spiral will proceed.