IBM Plans $2 Billion Expansion at SUNY Polytechnic Institute Campus in Albany, New York
According to Governor Andrew Cuomo’s Office, IBM’s investment includes the establishment of an "AI Hardware Center" at SUNY Poly for artificial intelligence-focused computer chip research, development, prototyping, testing and simulation. Once established, the AI Hardware Center will be the nucleus of a new ecosystem of research and commercial partners, and further solidify the Capital Region's position as "Tech Valley" - a global hub for innovative research and development.
IBM's expected $2 billion investment will be made at SUNY Poly and other IBM facilities in New York State. IBM plans to provide at least $30 million in cash and in-kind contributions for artificial intelligence research across the SUNY system, with SUNY matching up to $25 million for a combined total of $55 million.
Empire State Development will provide a $300 million capital grant over five years as an incentive, to the Research Foundation for SUNY to purchase, own and install tools necessary to support the AI Hardware Center.
Mukesh Khare, Vice President, Semiconductor and AI Hardware, IBM Research said, "AI will transform the world in dramatic ways in the coming years. IBM is pushing the boundaries of AI faster - for the benefit of industry and society. By expanding our partnership with New York State, we are creating a global hub of AI hardware research with an ecosystem to innovate, incubate, and lead in the development of disruptive technologies."
Steve Ghanayem, Senior Vice President of New Markets and Alliances at Applied Materials said, "We are excited to expand our long-time technology partnership with IBM as a member of the new AI Hardware Center. Achieving the levels of computing performance and efficiency needed in the AI era requires innovation in chipmaking materials and methods. Applied is focused on using our expertise in materials engineering to help the industry accelerate development of advanced technology."
"New York has always been at the forefront of emerging industries, and this private sector investment to create a hub for artificial intelligence research will attract world-class minds and drive economic growth in the region," Governor Cuomo said. "Artificial intelligence has the potential to transform how we live and how businesses operate, and this partnership with IBM will help ensure New York continues to be on the cutting edge developing innovative technologies."
"This investment by IBM will continue to grow New York's high-tech industry in the Capital Region and across the state," said Lieutenant Governor Kathy Hochul. "The artificial intelligence hardware center will expand research and partnerships at SUNY Polytechnic Institute, and ensure Tech Valley attracts innovative business and development that drives economic development in the region."
Empire State Development President, CEO & Commissioner Howard Zemsky said, "Establishing the AI Hardware Center will solidify New York State's position at the forefront of artificial intelligence, one of the world's fastest-growing and most socially transformative technologies which is driving unprecedented opportunities within the high-tech sector. By investing in the infrastructure necessary to support innovation, this partnership between New York State and IBM will add to SUNY Poly's remarkable record of industry-leading research, and continue to attract thousands of jobs and billions of dollars in economic activity across the Capital Region and New York State."
Canada-Based Prepac Manufacturing Chooses Whitsett, North Carolina, for Furniture Factory
Dollar General Plans Walton, Kentucky Distribution Center and Bowling Green Cold Storage Hub
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
A Heightened Focus on Reshoring
How are Uncertain Times Altering Company Location Strategies?
34th Annual Corporate Survey & the 16th Annual Consultants Survey