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Cuomo: $4.4B high-tech deal will mean 6,900 jobs

Tue, 09/27/2011 - 1:05pm
Associated PressAssociated Press

New York Gov. Andrew Cuomo says a $4.4 billion high-tech research project involving five global companies will create or retain 6,900 jobs statewide.

The effort involves Intel, IBM Corp., GlobalFoundries, the Taiwan semiconductor maker TSMC and Samsung. The companies plan to develop a next generation of computer chip technology to increase speed and capacity. Facilities will be created or expanded at the nanotechnology center next to the University at Albany and in other locations.

The state is providing a matching investment of $400 million in equipment and technology. IBM's John Kelly said the company's investment will amount to $3.6 billion.

Former President Bill Clinton, who attended the announcement, noted that Pittsburgh is trying to become the nation's nanotechnology center, but he said there should be plenty of work for everyone.

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