Sen. Chuck Schumer launches $160 billion technology initiative – The Daily Orange

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Senate Majority Leader Chuck Schumer (D-NY) launched his initiative to invest in and develop innovations in technology during a press conference at Syracuse University on Monday.

Schumer announced the $160 billion piece of legislation alongside SU Chancellor Kent Syverud, Onondaga County Executive Ryan McMahon and Syracuse Mayor Ben Walsh at the universitys National Veterans Resource Center.

The senatorsplan would dramatically increase U.S. investment in three areas: the advanced manufacturing of semiconductors, the research and development of important technologies and the establishment of regional technology hubs around the country investments that could help lead to the creation of jobs and jump-start innovation in central New York, according to a press release.

The plan includes passing the Endless Frontier Act, which aims to strengthen U.S. leadership in technology and focus education, resources and funding to those areas.The act would invest $100 billion over five years in research, development and workforce training with new technology.

The act would also create a Technology and Innovation Directorate at the National Science Foundation that will send funding to higher education institutions like SU, Schumer said during the press conference. Itwould also provide $10 billion to encourage the development of technology hubs around the country.

We want to see Silicon Valleys throughout the country not just in New York City or San Francisco, Schumer said.

The plan would also fully fund the implementation of the bipartisan semiconductor provisions passed in last years defense bill, which would constitute an upward of $50 billion in emergency federal funding. Semiconductors are crucial elements of silicon chips.

Federal investments in domestic semiconductor manufacturing would help Onondaga County recruit a tenant for the White Pine Commercial Park,one of the nations premier sites for manufacturing semiconductors, Schumer said.

The word game changer is very often used, but a chip lab in Onondaga County would be a game changer for all of central New York in a very big and important way, Schumer said.

The senator said he was unable to estimate the number of jobs Onondaga County stands to gain from the plan, as funds will be allocated on merit in the coming months. If the county is able to createsuch a facility,it could result in employment the size of Carrier at its peak, he said.

The U.S. has decreased its production of the worlds semiconductors from 24% to 12%, while China has increased its production from 0% to 16%,Schumer said.

The stakes are enormous, Schumer said in a press release. If we do not invest in the research, development and manufacturing of technologies of the future now, we risk falling behind in the race with China and other global competitors, putting at risk U.S. jobs and national security.

The plan also calls for $50 billion in emergency funding for federal incentives for domestic semiconductor manufacturing, research and development, Schumer said.SUs record in recruiting research faculty for fields such as quantum computing and artificial intelligence has put the region in a good position for new funding, the senatorsaid.

McMahon said Syracuse has an ideal tech ecosystem to benefit from the plan because of its facilities and workforce.Syracuse Surge, an economic growth program with the goal of revitalizing the city through technology, has contributed to the citys ability to react to issues relating to the COVID-19 pandemic, Walsh said.

Prior to the pandemic, we were firing on all cylinders, Walsh said. We are in a position to recover quickly and to pick up right where we left off to accelerate that progress.

Schumer said he intends to have the bill on the floor of the Senate in May. He expects it will pass, he said.

Published on April 26, 2021 at 6:53 pm

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Sen. Chuck Schumer launches $160 billion technology initiative - The Daily Orange