Governor Hochul Announces Launch of New Semiconductor Manufacturing Workforce Training Tax Credit Program
Program Will Help Connect Workers to Opportunities in America’s Fastest Growing Semiconductor Ecosystem
New York Leading the Way in Addressing the National Skilled Worker Challenge, Moving To Prevent Projected Shortfalls Threatening the U.S. Chip Factory Revival
Governor Kathy Hochul today announced the launch of the Semiconductor Manufacturing Workforce Training Incentive Program, designed to connect workforce training programs to careers in the state’s rapidly growing semiconductor industry sector. The new program, administered by Empire State Development, supports eligible semiconductor manufacturers and manufacturing businesses by offsetting the costs of training employees for high-demand manufacturing careers, helping companies build the skilled workforce needed to support continued industry growth across New York State.
“New York is making historic investments to become the nation’s premier destination for semiconductor manufacturing, and that means investing in people just as much as projects,” Governor Hochul said. “This new workforce training tax credit will help manufacturers develop the highly skilled workforce they need while creating new opportunities for New Yorkers to build careers in one of the world’s fastest-growing industries.”
The program supports employer-led training that addresses specific business needs, enhances employee skills, improves productivity and creates opportunities for career advancement. Eligible training may be provided directly by employers, third-party providers or New York State Registered Apprenticeship Programs. Tax credits can cover up to 75 percent of eligible training costs, including employee wages during training, curriculum development, instructor costs and qualifying wraparound services, up to $25,000 per employee receiving eligible training. Eligible semiconductor manufacturing businesses may receive up to $5 million in credits over the life of the program, while other eligible manufacturing businesses may receive up to $1 million.
To qualify, businesses must operate in New York State as eligible semiconductor manufacturing or manufacturing businesses, submit an approved workforce training plan before training begins, and demonstrate compliance with worker protection and environmental requirements. Applications are now being accepted through ESD. Additional program information, eligibility requirements and application materials are available here.
Empire State Development President, CEO and Commissioner Hope Knight said, "A strong semiconductor ecosystem depends on a strong workforce. By helping employers invest in training, New York is ensuring businesses have access to the talent they need while creating pathways to high-quality manufacturing careers for New Yorkers. This program complements our broader strategy to grow the semiconductor industry and reinforce New York’s position as a global leader in advanced manufacturing."
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