UTICA, N.Y. (AP) — Cree Inc., a Durham, North Carolina-based semiconductor manufacturer, will invest $1 billion in a new factory in upstate New York.
The move was announced Monday by company executives and state officials, who said the state will chip in $500 million in incentives.
Officials say that when completed in 2022, the nearly 500,000-square-foot facility in Marcy, near Utica, will be the world's largest silicon carbide fabrication facility.
Gov. Andrew Cuomo called Cree's decision to invest in New York an economic "game changer" and a big victory for the state's efforts to attract high-tech investment upstate.
The plant is expected to employ 600 workers.
Cree focuses on silicon carbide wafers, a type of semiconductor that can operate at high temperatures. They're especially sought after for use in electric vehicles and telecommunications.