U.S. Department of the Treasury Awards Over $9 Million to New York to Support Small Business Growth in Semiconductor and Microelectronic Industries

WASHINGTON – Today, the U.S. Department of the Treasury announced that Empire State Development is being awarded $9.4 million to support small business growth in the thriving semiconductor and microelectronics industries through the Biden-Harris Administration’s State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP).This award will be supported by $1.5 million in matching funds from Empire State Development.Part of the Biden-Harris Administration’s economic agenda, this program provides funding to connect underserved and very small businesses to the financing needed to participate in key Investing in America supply chains, including electric vehicle manufacturing, semiconductor manufacturing, construction, transportation, clean energy generation, and more. The SBOP was designed to catalyze additional private sector investment by supporting small business technical assistance services.“The Biden-Harris Administration’s economic agenda is driving historic investments, creating new opportunities for small businesses to grow and hire,” said U.S.