Picente and Edge Comment on Wolfspeed’s Investment in Marcy

The Mohawk Valley learned about Wolfspeed's decision to invest more in the Mohawk Valley and to  accelerate plans to build its 200-millimeter chip factory in the Marcy area, according to their quarterly earnings report.

According to the company report, the new Mohawk Valley plant is producing results at “significantly” lower costs than the Durham plant, according to WRAL.

“This improved profitability gives us the confidence to accelerate the shift of our device fabrication to Mohawk Valley, while we assess the timing of the closure of our 150mm device fabricator in Durham,” the company said.

Oneida County Executive Anthony Picente said on Thursday that this move shows the importance of persistence and the fact that this area didn't give up on a plan to create a chip fab manufacturing facility in the Mohawk Valley.

Watch Picente's comments below.

According to Wolfspeed CEO Gregg Lowe, the company will remained based in Durham and have a substantial employee presence there.

The company will announce more regarding the closure in its next earnings call in November.

Here's Mohawk Valley Edge's comments on Wolfspeed:

Statement From Mohawk Valley EDGE Regarding Wolfspeed and Mohawk Valley Fab

From its inception, the Marcy Nanocenter has been a draw for the semiconductor

manufacturing industry, culminating with the success of bringing Wolfspeed to our region

in 2019. Our site readiness and strong partnerships between Mohawk Valley EDGE, Oneida

County, New York State, and the Federal Government have made Marcy, New York a global

business hub. The Marcy Nanocenter maintains its competitive edge today and was

recently awarded $14 million to continue advancing site development.

The Wolfspeed $1.2 Billion public-private partnership has generated a great deal of

momentum. This proves this further improves building the semiconductor corridor across

the I-90 corridor from Buffalo to Albany. Companies like Semikron-Danfoss, Indium Corp.,

and Wolfspeed all provide ample opportunities for partnerships. In addition, the Marcy

Nanocenter is located adjacent to the SUNY Polytechnic Institute, showcasing the best

opportunities for students seeking good high paying jobs.

Wolfspeed has been a solid partner throughout this effort, frequently engaging with EDGE

to ensure their operations are moving steadily. Reaching 20% utilization rate at the Mohawk

Valley Fab earlier this year, Wolfspeed has stated they are well positioned to continue

delivering on their 200mm vertical integration strategy, making the prior investment in our

region a positive step towards future growth at the Marcy Nanocenter.

Mohawk Valley EDGE and the leadership of the Mohawk Valley Region is proud to partner

with Wolfspeed and look forward to continuing our progress on this 434-acre greenfield

space. We look forward to continuing our discussions in making the Marcy Nanocenter

fully utilized to support economic growth here in our region.