Andrew Cuomo, New York governor announces $4.4 BILLION tech investment from IBM, Intel
By Kenneth Lovett
DAILY NEWS ALBANY BUREAU CHIEF
Tuesday, September 27th 2011, 12:27 PM
ALBANY - Gov. Cuomo announced Tuesday that a group led by Intel and IBM will invest $4.4 billion in New York to create the next generation of cutting edge computer chip technology.
The five-year investment is expected to generate and retain 6,900 jobs in economically-distressed upstate, officials said.
Cuomo told a meeting of his regional economic development councils the jobs will carry an average salary of $100,000.
Cuomo called the investment an affirmation to his efforts since January to "create a more confident environment for doing business in New York."
"Major deals like this one prove that the state is truly open for business," Cuomo told the councils.
Intel, which is said to be making the most significant investment, is partnering with IBM, TSMC, Global Foundries and Samsung on the project.
IBM will focus on making the next two generations of computer chips to power advanced systems of all sizes, including those with national security applications.
Intel, IBM and the other companies will also partner to develop a way to produce more than twice the number of chips processed with current technology.
The research and development will take place at facilities in East Fishkill, Albany, Utica and the Finger Lakes.
Cuomo credited Assembly Speaker Sheldon Silver with getting involved in the effort to get the companies to invest.
Cuomo has not always been on the best of terms with Intel.
Less than two years ago, as attorney general, he sued Intel for anti-trust violations.
At the time, he charged Intel violated state and federal laws by trying to keep a monopoly over the market for microprocessors, the central chip inside personal computers and servers.
The suit charged Intel with paying computer makers billions of dollars in exchange for using the company's microprocessors instead of competing products from Advanced Micro Devices.
On Tuesday, Cuomo praised "this unprecedented private investment in New York's economy."
The state will match the investment of the five international technology companies with $400 million that will go to the SUNY College for Nanoscale and Science Engineering.
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