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Key takeaways:<\/b>\u00a0<\/p>\n \u00a0<\/p>\n When most people think about the semiconductor industry, they picture massive fabrication facilities producing\u00a0the computer\u00a0chips that power everything from smartphones to automobiles.\u00a0\u00a0<\/p>\n But according to industry leaders gathered at the recent NY SMART I-Corridor Semiconductor Summit, the real economic opportunity lies far beyond the factory floor.\u00a0<\/p>\n \u201cThe chip facility is the tip of the\u00a0iceberg\u00a0and ninety percent of the iceberg is under the water,\u201d said Ananth Iyer, dean of the University at Buffalo School of Management. \u201cThere\u2019s a lot more going on besides the clean room.\u201d<\/p>\n That submerged\u00a0portion\u00a0represents\u00a0a vast and growing network of suppliers, equipment manufacturers,\u00a0logistics\u00a0providers, warehouse operators, engineering\u00a0firms\u00a0and service companies that support semiconductor production. As New York continues to attract billions of dollars in semiconductor investment, these supporting industries stand to benefit significantly.\u00a0<\/p>\n That was a major theme of the summit,\u00a0held at Rochester Institute of Technology\u2019s RIT Inn and Conference Center,\u00a0which\u00a0brought together manufacturers, researchers, startups, economic development\u00a0organizations\u00a0and supply chain partners from across Upstate New York. Their goal:\u00a0identify\u00a0ways to strengthen the region\u2019s position within one of the nation\u2019s fastest-growing advanced manufacturing<\/a> sectors.\u00a0<\/p>\n The timing is significant. The NY SMART I-Corridor, led by the Buffalo Niagara Partnership<\/a>,\u00a0CenterState\u00a0CEO and\u00a0OneROC<\/a>, is one of only 12 federally designated Tech Hubs in the country. The initiative has secured more than $50 million in federal,\u00a0state\u00a0and matching investments aimed at accelerating semiconductor innovation, workforce\u00a0development\u00a0and supply chain growth.\u00a0<\/p>\n For businesses across New York, the message from industry leaders was clear: semiconductor growth is creating opportunities well beyond chip manufacturing itself.\u00a0<\/p>\n A keynote panel featuring executives from GlobalFoundries and Edwards Vacuum highlighted the increasing need for localized supply chains as the United States works to strengthen domestic semiconductor production.\u00a0<\/p>\n GlobalFoundries, one of the nation\u2019s largest semiconductor manufacturers,\u00a0operates\u00a0four facilities, including\u00a0two\u00a0in\u00a0New York,\u00a0and generated\u00a0roughly\u00a0$6.8 billion\u00a0in revenue in 2025.\u00a0\u00a0<\/p>\n Edwards Vacuum, which supplies critical vacuum systems used in semiconductor manufacturing, recently opened a $140 million facility in Genesee County<\/a> that is expected to employ\u00a0nearly 300\u00a0workers.\u00a0<\/p>\n Those investments create demand for thousands of products and services supplied by other businesses.\u00a0<\/p>\n Diane Captein, director of Global Supply Management at GlobalFoundries, noted that semiconductor expansion will require a broad range of support, including specialized equipment, materials, transportation services,\u00a0warehousing\u00a0and engineering\u00a0expertise.\u00a0<\/p>\n Similarly, Edwards Vacuum General Manager Dan Papsidero said the company\u2019s operations require thousands of individual components, creating opportunities for suppliers throughout the region.\u00a0<\/p>\n However, panelists stressed that success\u00a0will\u00a0require a long-term commitment. Companies interested in serving the semiconductor industry must be prepared to invest in quality systems, workforce\u00a0development\u00a0and operational capabilities that meet the sector\u2019s demanding standards.\u00a0<\/p>\n \u201cWe need to approach this with a long-term ecosystem mindset,\u201d\u00a0Papsidero\u00a0said.\u00a0<\/p>\n That ecosystem approach was a recurring theme throughout the summit. Discussions focused on workforce development<\/a>, startup funding, intellectual property protection, research\u00a0collaboration\u00a0and cross-border supply chain integration with Canada.\u00a0<\/p>\n For state leaders, the challenge is ensuring New York businesses are positioned to capture the economic benefits of the industry\u2019s rapid expansion.\u00a0<\/p>\n Merideth Andreucci, senior vice president and executive director of the Governor\u2019s Office of Semiconductor Expansion Management and Integration, said businesses from across the state are increasingly asking how they can\u00a0participate.\u00a0<\/p>\n \u201cThis is the most significant industrial expansion of our lifetime,\u201d she said. \u201cOur goal is to make sure New York companies are ready.\u201d\u00a0<\/p>\n\n
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Dan Papsidero<\/p>\n