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A public hearing will take place tonight in Clay to discuss the future of Micron Technology's project, which involves building four semiconductor manufacturing plants. The meeting, hosted by the Onondaga County Industrial Development Agency, will start at 6 p.m. at the Clay Town Hall on Route 31.
Onondaga County plans to offer Micron about $2 billion in sales and property tax breaks for the first two plants. These tax breaks are part of a larger $24 billion subsidy package from federal, state, and local governments to support the project. The federal government will provide most of the funding, with the state contributing $2.2 billion.
According to Syracuse.com, Micron will receive a $1.76 billion exemption from state and local sales taxes on construction materials and a $284 million break on local taxes. In lieu of property taxes, Micron will pay $84.5 million over 49 years, significantly less than the $368.4 million it would owe otherwise.
The public hearing will allow residents to voice their opinions on the tax agreement and the project itself. Those unable to attend in person can watch the proceedings online. The project, which spans over 800 acres, is expected to start construction by the end of the year, pending approval of the final environmental impact report. The first factory is projected to begin producing chips in 2030, with the second following in 2033.
CNY Central reports that the project is a significant investment in Central New York, aiming to boost the local economy and create jobs. However, some residents and stakeholders have raised concerns about the environmental and financial implications of such a large-scale development.