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IBM Investing $1.5 Billion in New York

07/18/2008
Information technology giant IBM will invest more than $1.5 billion to expand its semiconductor plant in East Fishkill, New York, and to fund additional research and development as part of its partnership with the State University of New York at Albany's College of Nanoscale Science and Engineering (Albany NanoTech). The state of New York will partner with IBM by providing $140 million in economic development grants. The public-private partnership will create more than 1,000 new high-tech positions and retain more than 1,000. Among the projects will be a new, 120,000-square-foot semiconductor packaging center at a to-be-determined location in upstate New York that will be managed and owned by Albany NanoTech, with IBM conducting operations at that site. The company will also expand operations at its current Albany NanoTech site. "These new investments will spur continuing advancements in nanotechnology and semiconductor research and development - including new efforts in semiconductor packaging - propelling IBM chip innovations and solidifying the state's reputation as a high-technology leader." Says Dr. John E. Kelly III, IBM's senior vice president and director of research.

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