Building on its longtime success of supporting entrepreneurs, Syracuse University’s South Side Innovation Center (SSIC) will receive $1 million in federal funding to upgrade its facilities in support of its role to help grow the workforce and prepare small businesses as Micron’s $100 billion investment transforms the region over the next decade.
On Wednesday, U.S. Senate Majority Leader Chuck Schumer and Senator Kirsten Gillibrand announced that the SSIC would receive the federal funding, as part of $3 million package. The new funding demonstrates the significant role Syracuse University will play in building and training the workforce of the future that will power Micron’s leading-edge memory megafab in Clay, New York, the largest facility of its kind in the United States.
“The funding will “supercharge Central New York’s efforts to make sure Micron benefits every corner of the community,” Schumer says. “From upgrading facilities on Syracuse University’s South Side Innovation Center to help training our workforce and increasing small businesses’ ability to access the semiconductor industry, this funding will help get Central New York ready for the transformation ahead.”
The SSIC, an entrepreneurial project of the Martin J. Whitman School of Management, seeks to increase the vitality of the local and area economy by recruiting, nurturing, and training emerging and mature businesses. The SSIC provides these businesses with incubation support, development, education, market access, and credit assistance, using highly skilled trained professional counselors.
“The South Side Innovation Center has been a hub of innovation in our community for nearly two decades. Its work has stimulated economic growth, propelled job creation and driven community revitalization,” says Chancellor and President Kent Syverud. “With Central New York on the verge of a once-in-a-generation transformation, this support will allow the center to enhance its impact in cultivating a thriving and stable workforce in Central New York. I am grateful to our elected officials, especially Senate Majority Leader Chuck Schumer and Senator Kirsten Gillibrand, for their tenacious advocacy on behalf of our state, our region and our city.”
“We are delighted to receive this support for the SSIC. This significant investment in modernizing the SSIC facility truly is a game-changer and will act as a cornerstone of our work to support even greater success for our community entrepreneurs and innovators. This investment is an investment in creating an even greater future for Syracuse and Central New York” says Alex McKelvie, interim dean of the Whitman School.
The funding will help SSIC upgrade its infrastructure to reflect current business needs and workplace expectations and update its technology to provide training in an inducive and innovative environment. The investment in the SSIC will “expand workforce training,” and “spark new life and grow businesses in Central New York,” says Gillibrand.
The funding will also help modernize SSIC’s facilities to both better serve the community and guarantee that the space is compliant with the Americans with Disabilities Act’s accessibility regulations.
Knowing the size and scope of Micron’s transformative investment in the region, and recognizing that Syracuse has one of the highest poverty rates (30.1%) in the U.S. and higher levels of unemployment (4.5%), Schumer and Gillibrand emphasized that the money will “help ensure that the economic development [created] will be equitable and inclusive.”
According to a press release issued by the senators, the funds will also be used to support transformative capital investment to create jobs, develop a more qualified workforce, and generate tax revenues through sales of profitable new businesses, ultimately contributing to the overall health and stability of the Central New York economy.
