The funding agreement with the U.S. Commerce Dept. was contingent on the company's recently announced pledge to invest $50 billion in the plants over the next five years.
Most of President Joe Biden’s March 7 speech to a joint session of Congress centered on domestic issues, but he also announced one construction-related overseas action.
The state funds are earmarked for construction at the Albany NanoTech Complex and purchase of advanced equipment for semiconductor chip research and development.
Officials attribute the rise in manufacturing construction spending to the CHIPS and Science Act and other legislation that has incentivized private investment.