Nanotechnology Venture Involving 5 Companies Will Yield 2,500 High-Tech Jobs for SUNY

September 27, 2011

New York's $400-million investment in nanotechnology has attracted a consortium of five technology companies that will work in partnership with the State University of New York to develop the next generation of computer chips.

Gov. Andrew M. Cuomo announced on Tuesday that the state had wooed the five firms—Global Foundries, IBM, Intel, Samsung, and Taiwan Semiconductor Manufacturing Company Ltd., or TSMC—in an international competition to advance cutting-edge hardware.

"This unprecedented private investment in New York's economy will create thousands of jobs and make the state the epicenter for the next generation of computer-chip technology," Governor Cuomo said in a news release.

With the involvement of the companies, the venture will be worth an estimated $4.4-billion dollars, according to the announcement from the governor's office, and will support nearly 7,000 new and existing jobs in the state. New jobs the project is expected to generate include 2,500 high-technology positions at three SUNY campuses and an IBM site, about 1,500 construction jobs at the College of Nanoscale Science and Engineering at the system's Albany campus, and 400 construction jobs at the SUNY Institute of Technology in Utica.