In the year since President Joe Biden first attached his name to the CHIPS and Science Act, aimed at spurring investments in semiconductors, New York has found itself at the tip of the spear.

New York officials are touting the anniversary of the law, pointing to high profile investments across the state over the past year.

“The commitment is there. The opportunity is there. And the upside is without limit,” New York Lt. Gov. Antonio Delgado said.

In October, Micron announced plans to build a $100 billion semiconductor plant outside Syracuse, which is expected to help create tens of thousands of jobs.

Days later, IBM touted a $20 billion investment in the Hudson Valley.

Delgado argues these announcements can be directly attributed to the year-old law, which sets aside roughly $50 billion in part to boost the domestic production of computer chips, and to New York’s own state-level initiatives, including $10 billion in tax credits for semiconductor-related projects.

“We know that this is where the future lies, whether it's in the green tech space, whether it's in the advanced manufacturing space,” Delgado said.

Of course, history shows government investments can at times go sideways. For instance, in Buffalo, the state spent nearly $1 billion on an Elon Musk-backed solar panel factory. A decade later, there is little to show for it.

Delgado stresses there are checks in place for these semiconductor investments.

“We engaged with Micron. There are metrics. There are standards that they have to meet,” Delgado said. “If they don't meet those standards, obviously, there's accountability.”

The anniversary of the bill signing comes as public impressions about the U.S. economy remain underwater — a worry for the president and his party ahead of an election year.

Delgado argues impressions can change, and that the implementation of the CHIPS Act is sure to help.

“As we begin to continue to roll these investments out, the returns on those investments will certainly take shape,” Delgado said. “It's not going to happen overnight.”

New York Sen. Chuck Schumer, who serves as majority leader in the upper chamber, played a prominent role in getting the CHIPS bill across the finish line and in advocating for investments back home.

In a statement marking the anniversary, he lauded the CHIPS Act as one of the “most significant pieces of legislation passed in decades to ensure good-paying jobs return back to America and enable the U.S. to not just keep — but cement — our lead in science and national security.”

Gov. Kathy Hochul, in her own statement, pointed to the investments of the past year, saying that “New York is leading the nation’s manufacturing comeback.”