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Post by Deleted on Sept 23, 2019 14:50:22 GMT -5
Cree announces $1B wafer manufacturing facility in Marcy A North Carolina-based silicon carbide technology manufacturer is building a new wafer fabrication facility in Marcy. Cree, Inc. announced Monday that it will build a “brand new, state-of-the-art, automotive-qualified 200mm power and (radio frequency) wafer fabrication facility.” The facility comes as Cree is expanding its Durham headquarters, according to the announcement. The new development at Marcy comes through a partnership with Gov. Andrew Cuomo’s office and other state and local agencies, the company said in the announcement. While the subject has not yet been announced, Cuomo is scheduled for an appearance Monday afternoon at SUNY Polytechnic Institute in Utica. “This state-of-the-art, automotive-qualified wafer fabrication facility builds on our 30-year heritage of commercializing breakthrough technologies that help our customers deliver next-generation applications,” said Cree CEO Gregg Lowe. “We look forward to connecting our North Carolina and New York innovation hubs to drive the accelerated adoption of silicon carbide.” According to the company, Cree is a manufacturer of Wolfspeed power and radio frequency semiconductors and lighting class LEDs, with a portfolio that includes silicon carbide materials. A goal with the Marcy facility is to establish a “silicon carbide corridor” between New York and North Carolina. The company did not explicitly state where the facility would be located. The town is home to the Marcy Nanocenter, a 450-acre site that has been marketed to advanced manufacturing firms for around two decades. While it’s currently a vacant field, the Nanocenter has had hundreds of millions of dollars invested into it, with officials marketing it as “shovel-ready” as it has its own electric substation, water lines, a ring road and other improvements. According to the company’s statement, Cree will invest approximately $1 billion in construction, equipment and other costs for the Marcy facility. New York State, meanwhile, will provide a $500 million Empire State Development grant, while Cree will be eligible for additional local incentives and abatements along with equipment and tooling from SUNY, according to the statement. The new facility will be up to 480,000 square feet with room for expansion, according to Cree. Eric Gertler, acting commissioner and president of Empire State Development, said in the statement that the Mohawk Valley “offers a unique combination of valuable high-tech and scientific assets, and this is an important next step in growing our advanced manufacturing infrastructure and investing in our upstate economy.” “We’re excited to become part of Cree’s efforts to drive the transition from silicon to silicon carbide, and this partnership will be a key part of our work to strengthen the research and scientific assets that New York State will use to attract the industries and jobs of tomorrow,” Gertler said in the statement. www.uticaod.com/news/20190923/cree-announces-1b-wafer-manufacturing-facility-in-marcyCould this be the salvation for the area. |
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Post by Deleted on Sept 23, 2019 14:59:17 GMT -5
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Post by Deleted on Sept 23, 2019 15:13:38 GMT -5
A different take on the same story from Syracuse newspaper Marcy, N.Y. -- Cree Inc., a North Carolina company known for its LED lighting products, announced plans Monday to build a $1 billion factory near Utica that it said will be the world’s largest silicon carbide fabrication facility. Durham-based Cree said the highly automated plant in Marcy will make silicon carbide wafers for automotive-qualified 200mm power and radio frequency semiconductors. “Silicon carbide is one of the most pivotal technologies of our time, and is at the heart of enabling innovation across a wide range of today’s most groundbreaking and revolutionary markets, including the transition from the internal combustion engine to electric vehicles and the rollout of ultra-fast 5G networks,” Cree CEO Gregg Lowe said in a statement. “This state-of-the-art, automotive-qualified wafer fabrication facility builds on our 30-year heritage of commercializing breakthrough technologies that help our customers deliver next-generation applications. We look forward to connecting our North Carolina and New York innovation hubs to drive the accelerated adoption of silicon carbide.” The company did not say how many people the facility will employ. Gov. Andrew Cuomo is scheduled to discuss the project during an appearance at SUNY Polytechnic Institute near Utica at 4 p.m. Cree’s announcement comes almost three years after Austrian semiconductor maker ams AG dropped plans to invest $2 billion to build a computer chip factory at the 450-acre Marcy Nanocenter site in Marcy, a project that was expected to create 1,000 jobs, the Albany Business Review reported. Cree said it will be investing approximately $1 billion in construction, equipment and other related costs. The state of New York will provide a $500 million grant through its economic development office, Empire State Development, it said. In addition, Cree will be eligible for additional local incentives and tax abatements, as well as equipment and tooling from the State University of New York, the company said. “We’re excited to become part of Cree’s efforts to drive the transition from silicon to silicon carbide, and this partnership will be a key part of our work to strengthen the research and scientific assets that New York State will use to attract the industries and jobs of tomorrow," Empire State Development Acting Commissioner and President and CEO-designate Eric J. Gertler said in a statement. “The Mohawk Valley offers a unique combination of valuable high-tech and scientific assets, and this is an important next step in growing our advanced manufacturing infrastructure and investing in our upstate economy.” The facility will be 480,000 square feet when completed in 2022, with approximately one-fourth of it clean room space, and will have room for future expansion, the company said. “With a mega materials factory in Durham and a state-of-the-art wafer fabrication facility near Utica, Cree will establish a ‘silicon carbide corridor,’ leveraging its 30-year heritage of research and development in the Research Triangle of North Carolina and tapping into the rich technological base of resources situated in New York’s Mohawk Valley,” the company said. Cree said it plans to partner with local community and four-year colleges in North Carolina and New York to develop training and internship programs to prepare its workforce for the high-tech employment and long-term growth opportunities in both locations. Rick Moriarty covers business news and consumer issues. Have a question or news tip? Contact him anytime: Email | Twitter | Facebook | 315-470-3148 www.syracuse.com/business/2019/09/cree-to-build-1-billion-silicon-carbide-wafer-plant-near-utica.html A Cree Inc. facility in Durham, North Carolina. |
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Post by Deleted on Sept 23, 2019 15:28:38 GMT -5
Cree Announces Update to Capacity Expansion Plan - Company to Build World’s Largest Silicon Carbide Device Manufacturing Facility in New York SEPTEMBER 23, 2019 State-of-the-art wafer fab in New York and mega materials factory in North Carolina will establish silicon carbide corridor on the East Coast Partnership creates larger, highly-automated wafer fab at lower net cost than previously planned Proposed 200mm power and RF wafer fabrication facility, known as the “North Fab,” will be built in a new location in New York Mega materials factory expansion continues at North Carolina global headquarters Plan enables 25 percent increased capacity for lower net CapEx DURHAM, N.C. – Cree, Inc. (Nasdaq: CREE), the global leader in silicon carbide (SiC) technology, today announced plans to establish a silicon carbide corridor on the East Coast of the United States with the creation of the world’s largest silicon carbide fabrication facility. The company will build a brand new, state-of-the-art, automotive-qualified 200mm power and RF wafer fabrication facility in Marcy, New York, complemented by its mega materials factory expansion currently underway at its Durham headquarters. The new fabrication facility, part of a previously announced project to dramatically increase capacity for its Wolfspeed silicon carbide and GaN business, will be a bigger, highly-automated factory with greater output capability. Through a strategic partnership with the office of Governor Andrew M. Cuomo and other state and local agencies and entities, the decision to build in New York will allow for both continued future expansion of capacity and significant net cost savings for Cree. As a result, Cree will continue to drive the transition from silicon to silicon carbide technology to meet the increasing demand for the company’s groundbreaking Wolfspeed technology that supports the growing electric vehicle (EV), 4G/5G mobile and industrial markets. “Silicon carbide is one of the most pivotal technologies of our time, and is at the heart of enabling innovation across a wide range of today’s most groundbreaking and revolutionary markets, including the transition from the internal combustion engine to electric vehicles and the rollout of ultra-fast 5G networks,” said Gregg Lowe, CEO of Cree. “This state-of-the-art, automotive-qualified wafer fabrication facility builds on our 30-year heritage of commercializing breakthrough technologies that help our customers deliver next-generation applications. We look forward to connecting our North Carolina and New York innovation hubs to drive the accelerated adoption of silicon carbide.” “We’re excited to become part of Cree’s efforts to drive the transition from silicon to silicon carbide, and this partnership will be a key part of our work to strengthen the research and scientific assets that New York State will use to attract the industries and jobs of tomorrow,” said Empire State Development Acting Commissioner and President and CEO-designate Eric J. Gertler. “The Mohawk Valley offers a unique combination of valuable high-tech and scientific assets, and this is an important next step in growing our advanced manufacturing infrastructure and investing in our upstate economy.” As part of the partnership, Cree will be investing approximately $1 billion in construction, equipment and other related costs for the New York fab. New York state will provide a $500 million grant from Empire State Development and Cree will be eligible for additional local incentives and abatements as well as equipment and tooling from SUNY. As a result, the company expects to realize a net capital savings of approximately $280 million on our previously announced $1 billion capacity expansion through 2024. In addition, it will provide 25 percent increased output compared to the previously planned facility. Ramping in 2022, the size of the new facility will be up to 480,000 square-feet upon completion, approximately one fourth of which will be clean room space, providing future expansion capacity as needed. These expansions will further improve Cree’s competitive position in the marketplace and accelerate silicon carbide adoption across an array of high-growth industries. Creation of the silicon carbide corridor With a mega materials factory in Durham and a state-of-the-art wafer fabrication facility near Utica, Cree will establish a “silicon carbide corridor”, leveraging its 30-year heritage of research and development in the Research Triangle of North Carolina and tapping into the rich technological base of resources situated in New York’s Mohawk Valley. Cree plans to partner with local community and four-year colleges in North Carolina and New York to develop training and internship programs to prepare its workforce for the high-tech employment and long-term growth opportunities in both locations that the company’s revised expansion plan presents. About Cree, Inc. Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors and lighting class LEDs. Cree’s Wolfspeed product portfolio includes silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging, inverters, power supplies, telecom and military and aerospace. Cree’s LED product portfolio includes blue and green LED chips, high-brightness LEDs and lighting-class power LEDs targeted for indoor and outdoor lighting, video displays, transportation and specialty lighting applications. For additional product and Company information, please refer to www.cree.com. Forward Looking Statements: This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the timing of the transition to using silicon carbide devices in EVs; Cree’s ability to develop and design silicon carbide devices that will continue to improve performance in the EV market; Cree’s ability to develop and design RF devices that will improve performance in the RF Power market; the risk Cree may encounter delays or other difficulties in ramping up production in the new New York fab on time, at the projected costs, to the extent of the anticipated production levels or at all; risks associated with the transition of production from 150mm to 200mm wafers; the risk that Cree may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; customer acceptance of EVs using Cree’s silicon carbide devices; customer acceptance of RF power devices using Cree’s GaN technology; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 30, 2019, and subsequent filings. Cree® and Wolfspeed® are registered trademarks of Cree, Inc. www.cree.com/news-events/news/article/cree-announces-update-to-capacity-expansion-planMedia Contact: Claire Simmons Cree, Inc. Corporate Marketing 919-407-7844 |
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Post by Deleted on Sept 23, 2019 15:31:55 GMT -5
Governor is talking via phone about this at a meeting being help now and this will bring over 600 jobs to the area and he said total investment is well over $4 Billion.
Cuomo is congratulating all the power pushers in the room that kspt the doors open to bring a fab center to the area. Everything is now moving in the right direction and Cree will jumpstart it all. Words from our great Cuomo.
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Post by Deleted on Sept 23, 2019 15:33:54 GMT -5
These will be tech jobs starting at $75,000.
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Post by Deleted on Sept 23, 2019 15:52:08 GMT -5
EXTRA, EXTRA READ ALL ABOUT IT. THIS IS AN UPDATE Officials announce $1B manufacturing facility in Marcy: Live updates By Observer-Dispatch Posted at 9:06 AM Updated at 4:08 PM After two decades of planning and $130 million in infrastructure improvements, the Marcy Nanocenter has a tenant. Through a public-private partnership, Cree, Inc., a semiconductor company based in Durham, North Carolina, and New York State will build and equip a state-of-the-art, highly-automated 200 mm silicon carbide wafer fabrication facility on the campus of SUNY Polytechnic Institute in what is currently a field. “This partnership is vital to strengthening the research and scientific assets that New York State needs today to attract the high-tech industries and jobs of tomorrow,” Gov. Andrew Cuomo said in a statement Monday. “This is a crucial step in cultivating the advanced manufacturing infrastructure of New York State, growing the upstate economy and transforming the future of the Mohawk Valley.” The facility, which will cost about $1 billion and take six years to construct, will be the first of its kind in the world, Cuomo said. The state will reimburse Cree’s costs for fitting out the facility, and acquiring and installing machinery and equipment with $500 million in performance-based, capital grants from Empire State Development. It will also provide $1 million in Excelsior Jobs tax credits. Cree has committed to investing $30 million in research and development, creating more than 600 jobs in eight years and providing internships and research opportunities for students at SUNY schools, which are developing an advanced manufacturing-oriented workforce development initiative. For Cree, the move is strategic, creating a silicon carbide corridor between Mary and the company’s mega materials factory in Durham, official said. “This public-private partnership will to only bring hundreds of jobs and investment to New York, but it will also strengthen Cree’s position overall, including in North Caroline, and ensure our standing as the global leader in silicon carbide technology,” said CEO Gregg Lowe in a statement. Cree specializes in silicon carbide and gallium nitride (GaN) technologies, manufacturing its trademarked Wolfspeed power and radio frequency semiconductors and lighting class LEDs. Its products can be used in applications such as electric vehicles, fast charging, inverters, power supplies, and telecom, military and aerospace uses. The state first suggested using the 450-acre Nanocenter site in 1998; it was rezoned by the Marcy Town Board in 2001, but spent years in limbo as Mohawk Valley EDGE tried to get wetlands permit for the site. A deal was announced with Austrian chip maker AMS in 2015, but the company pulled out in December 2016, citing delays and the state’s failure to honor its agreement. The site has made the short list for companies such as Global Foundries and Texas Instruments who ultimately chose to move elsewhere. SIGN UP FOR DAILY E-MAIL Wake up to the day’s top news, delivered to your inbox READ NEXT + State giving $500M capital grant. + State and locals have already spent $130M+ on site prep. +State projects 600 jobs, average salary of $75K. + State estimates $4.3B economic impact. www.uticaod.com/news/20190923/officials-announce-1b-facility-in-marcy-live-updates |
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Post by Deleted on Sept 23, 2019 15:58:30 GMT -5
Head of Cree now speaks at announcement   |
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Post by BHU on Sept 23, 2019 19:45:08 GMT -5
So the state is awarding a $500 million dollar grant to an out of state company with a promise of UP to 600 jobs. We've heard all this before from the same crowd & I'll believe it when the plant is built & up & running with 600 employees.
Funny how this was announced 6 weeks before the November election for county executive.
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Post by BHU on Sept 23, 2019 19:50:50 GMT -5
Oooooh look! In eight years they'll be 600 jobs! That's 75 jobs each year. Our Salvation will be here in 8 short years! I can't believe people still fall for this crap.
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Post by Deleted on Sept 24, 2019 11:16:41 GMT -5
I can't find the number of employees that work at the facility in North Carolina but look how much Gregg Lowe is worth: Gregg Lowe Net Worth The estimated Net Worth of Gregg A Lowe is at least $35.8 Million dollars as of 31 January 2012. Mr. Lowe owns over 60,000 units of Cree stock worth over $15,891,503 and over the last 16 years he sold CREE stock worth over $6,517,848. In addition, he makes $13,423,300 as President, Chief Executive Officer, and Director at Cree. Mr. Lowe CREE stock SEC Form 4 insider trading Gregg has made over 9 trades of the Cree stock since 2004, according to the Form 4 filled with the SEC. Most recently he sold 60,000 units of CREE stock worth $1,930,800 on 31 January 2012. The largest trade he's ever made was exercising 200,000 units of Cree stock on 26 October 2007 worth over $3,236,000. On average, Gregg trades about 21,522 units every 89 days since 2004. As of 31 January 2012 he still owns at least 319,363 units of Cree stock. You can see the complete history of Mr. Lowe stock trades at the bottom of the page. wallmine.com/people/21345/gregg-a-lowe |
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Post by Deleted on Sept 24, 2019 11:23:21 GMT -5
www.wraltechwire.com/2019/09/23/why-did-cree-ditch-plans-for-a-450000-chip-factory-in-nc-in-favor-of-ny-incentives-says-firms-ceo/Why did Cree ditch a chip plant in NC in favor of NY? Incentives, says CEO DURHAM – The Triangle just lost out on a sizable chunk of Cree’s $1 billion planned expansion project. Cree’s CEO Gregg Lowe said the Durham-based tech firm had originally planned to invest all the funds in Durham when it announced the project this May, building a “megafactory” that included a new chip plant alongside a materials factory. But in a sudden turnaround, the semiconductor and LED firm has decided to ditch plans for the chip factory in the Bull City. Instead, it will build it in Marcy, New York as part of its drive to increase production of silicon carbide chips. The materials factory and around $500 million in investment, however, will still go ahead as planned in Durham. In the end, Lowe said, it largely came down to incentives. “It was substantially important,” he told WRAL TechWire by phone on Monday afternoon, hours after the decision was announced earlier in the day. The state of New York offered a $500 million grant, allowing Cree to build a larger facility – “around 25 percent bigger — “at a lower net cost.” “It turned out to be a financial benefit, and a capacity benefit as well.” Lowe added that North Carolina officials had made a counter offer to lure Cree back to the Old North State. But it didn’t even come close to what New York was offering. “North Carolina went up to their maximum statutory numbers, which were sizably lower than [New York]. It was hard to meet that.” There were other mitigating circumstances, including the “empty shell” building already located on the Durham site. “We were going to move into that shell. It has some amount of issue with it in terms of turning it into a [wafer fabrication facility]. We could have done it, but we would have had to compromise some things,” Lowe said. FORECAST GROWTH FOR SILICON CHIPS — 30 TIMES OVER NEXT FIVE YEARS The expansion project is all part of Cree’s plans to increase production of silicon carbide chips being sold by its Wolfspeed power supply subsidiary. The goal is to ramp it up by “30 times over the next five years,” Lowe said. A major focus of that group is electric-powered vehicles. Other points of effort include wireless technology such as emerging 5G networks. Lowe emphasized that Cree is still heavilty invested in North Carolina. The “empty shell” site in Durham will now be transformed into a second material factory. The firm will also add around 200-300 jobs “higher-paying jobs.” The jobs will pay “twice as much” – from $15 an hour to around $30 an hour, he said. Will people working in the current chip factory lose their jobs? “We’ll see a transition from operator jobs to more technicians. There will be less operator jobs,” he said. He tried to put a silver lining on it. “We’re really excited about the investment we’re making in North Carolina,” he said. “We’ve already engaged on the jobs training and the workforce development side of it. We’ve been in RTP for 30 years, and we’re excited about continuing our work with them.” Well they said they had to come up with an architectural drawing but this is what was offer for this plant if it was built in NC  Have to see what they come up with
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Post by Deleted on Sept 24, 2019 11:33:14 GMT -5
The were making $15.00/ hour but these jobs will be at $30.00/hour still doesn't come to $75,000/year.
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Post by clarencebunsen on Sept 24, 2019 11:52:36 GMT -5
So the state is awarding a $500 million dollar grant to an out of state company with a promise of UP to 600 jobs. We've heard all this before from the same crowd & I'll believe it when the plant is built & up & running with 600 employees. Funny how this was announced 6 weeks before the November election for county executive. As you say, we have heard this song and dance so many times and always a few weeks before an election. Hope springs eternal. At least it's a real company making products I have used. Their announcement makes it pretty clear that the primary reason for the decision was that New York offered bigger bribes than NC. Probably most people in the area who had clean room experience have left the area but there's time for SUNY to develop a program. |
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Post by Ralph on Sept 24, 2019 12:27:05 GMT -5
600 jobs over 8 years............maybe. Promises don't always come to fruition, ask the folks in Buffalo. The idea that the average salary will be $75k a year is indeed just that, an average. More like a lot of little folks making a little, and a few of the big folks making a LOT. Just because the 'average' works out that way doesn't mean diddly squat. Most of the production laborers will start around $26k+ a year, which is basically what Walmart starts their workers at, $12.75 an hour. Keep in mind that Cree works their production line employees ( as well as pretty much everyone else) on 12 hour shifts. 12 hour shifts will suck the life out of pretty much anyone I know. Cree Inc Salaries in the United States As with all things New York...................I'll believe it when I see it. |
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