UTICA, NY (AP) – Cree Inc., a Durham, North Carolina-based semiconductor manufacturer, will invest $ 1 billion in a new plant in New York State.
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 plant for silicon carbide production.  gov. Andrew Cuomo called Cres decision to invest in New York for an economic "game changer" and a major victory for the state's efforts to attract high-tech investment in the state.
The plant is expected to employ 600 workers.
Cree focuses on silicon carbide disks, a type of semiconductor that can operate at high temperatures. They are especially in demand for use in electric vehicles and telecommunications