Posted on 10/26/2022 2:23:48 PM PDT by dennisw
Rep. Alexandria Ocasio-Cortez and other New York progressives — who helped kill Amazon’s plans for a Queens headquarters in 2019 — have been conspicuously quiet about an upstate semiconductor plant that’s expected to become far pricier for taxpayers.
Chipmaker Micron is set to receive at least $5.5 billion in state tax incentives over the next two-plus decades in exchange for building a semiconductor factory outside Syracuse that will employee 9,000 workers.
By contrast, the so-called HQ2 that Amazon proposed for Queens in 2018 — but was later killed following protests from local politicians and residents — was set to receive roughly $3 billion in tax credits and state construction subsidies in exchange for what Amazon said would be 25,000 jobs.
That works out to the Micron plant creating less than half as many jobs in exchange for nearly twice as many tax incentives — or $611,000 per job. The Amazon proposal would have cost about $120,000 per job.
The Micron deal — which President Biden is set to celebrate alongside Micron’s CEO in a visit to Syracuse on Thursday — came together after nearly two years of negotiations involving Democratic Gov. Kathy Hochul and US Senate Majority Leader Chuck Schumer (D-NY), Syracuse.com reported.
Micron to spend $100B on chip plant and bring 9,000 high-paying jobs to NY town New York reportedly beat out four other states including Texas to land the plant by wooing Micron with the fattest incentive package. But many progressives who slammed the Amazon deal as a corporate handout to one of the biggest companies in the world have remained silent about Micron.
AOC also helped set Micron and other chip manufacturers up to receive extra federal subsidies on top of the New York tax breaks by voting for the Biden-backed Chips and Science Act in June.
(Excerpt) Read more at nypost.com ...
Surprise! They’re phony POS. Who would have guessed?
As far as I know Micron produces memory chips and modules ...and NVME drives for Crucial. That I have bought from
This seems like a commodity business. Not high end like getting TSMC to build in Arizona.
semiconductor factory outside Syracuse that will employee 9,000 workers.
Sure it will. An industry dominated by robots and automation will employ that many folks. That plant will be as big as Syracuse, itself.
The Great American Jobs Scam: Corporate Tax Dodging and the Myth of Job Creation
https://www.amazon.com/Great-American-Jobs-Scam-Corporate/dp/1576753158
What do Wal-Mart, Dell, Fidelity Investments, Boeing, and Cabela’s have in common? They’re all part of a $50 billion a year scam in which—in the name of “job creation”—corporations play states and cities against each other to win hefty taxpayer subsidies that routinely exceed $100,000 per job. But do they provide more jobs, higher wages, or improved living standards in exchange? Greg LeRoy exposes these deals for what they are—no-strings-attached free rides for corporations that rarely create any new jobs. In fact, after securing these packages, many companies lay people off, pay poverty wages, or even relocate to other states.
This is the Great American Jobs Scam: a costly bait-and-switch that swindles communities in more ways than one. They lose jobs—or gain jobs so low-paying they do nothing to help the community—and they lose revenue through massive corporate tax breaks. That means fewer resources for maintaining schools, public services, and infrastructure.
Every congress critter in The House is up for reelection every 2 years.
How is her polling?
I can’t believe she was re-elected after the first time, when she killed the major new jobs project.
2. There were plenty of legitimate reasons to oppose New York’s Amazon deal. Personally, I don’t think Amazon ever had any intention of locating its “HQ2” in NYC.
3. The Amazon deal in New York was killed when key state legislators withdrew their support, not when some dingbat Congressional candidate jumped on the bandwagon to oppose it.
She probably has stock in the chip company and not Amazon.
Micron = Crucial
I was just on ebay looking for a 500gb NVME drive. I saw one new by Crucial for $32 from Best Buy via ebay. This is down $14 or so from a few months ago.
These discounts show that times is tough for Micron
And 1TB Crucial P3 NVME at the Best Buy site for $69. What a drop!
Update, and get a load of the tidbit contained at the link...
https://cnycentral.com/news/local/amid-graduation-season-will-cny-grads-choose-to-stay-in-cny#
The Micron planet in Syracuse is “...expected to take 10 to 20 years to fully build...”
WTH?!
Prices are way down these days. Hence the foot dragging in Syracuse.
"Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives"
I can see that I can buy 32GB of RAM for my lasptop, for what 16GB cost last year.
Update...
What a cluster.
Chips are so depressed, that I cannot see Micron building all they say they will build in upstate NY
Micron’s $500M CNY investment: Community input sought via survey in Cayuga County
You know what reads like to me...
Micron is gifting taxpayers with a wee bit of our own money back.
How kind.
Thanks. I see that NVME drives are half the price they were last year. Same for RAM sticks I think. There is deflation in the chip industry and the PC laptop and desktop business.
I see good discounts on Apple laptops too. I only own PC laptops and desktops. I own zero from Apple
ANNOUNCEMENT: Micron Community Engagement Committee Survey
Check out that survey...
Micron awarded $6.1 billion grant for mega-fab plants in Central New York
With friends like that, who needs customers.
soon
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