The state funds are earmarked for construction at the Albany NanoTech Complex and purchase of advanced equipment for semiconductor chip research and development.
The tech equipment maker says the amount of its investment in the California project is contingent on the federal funding it receives via the Chips and Science Act.
The U.S. Commerce Dept. launched first funding opportunity for semiconductor chip producers seeking to build, expand or modernize plants using money from the Chips and Science Act.
US Commerce Secretary Gina Raimondo says as federal financial incentives for semiconductor production become available, project workers are in short supply, but builders say credits don't fully support their development