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NY State and IBM Fund $150-Mil Center of Excellence

ALBANY-IBM and New York State have announced plans to contribute a total of $150 million to establish a Center of Excellence in Nanoelectronics at the University at Albany.

By John Jordan | Updated on April 24, 2001

ALBANY-Gov. George E. Pataki and Dr. John E. Kelly III, senior vice president and group executive, IBM Technology Group, announced Apr. 23 more than $150 million in public and private sector support for a Center of Excellence in Nanoelectronics at the University at Albany. State officials say that the deal represents one of the largest investments of its kind in New York State history, with IBM pledging more than $100 million to support the center, and the state pledging up to $50 million.

Gov. Pataki commented, “The fact that IBM, one of the world’s leading high-technology companies, has chosen to make this major investment in Upstate New York makes clear that our Centers of Excellence initiative is going to produce tremendous benefits for the Empire State. The work… will lead to the development of cutting edge technologies and innovative new products, while also fostering new job creation for the people of Upstate and all across New York.”

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