The contract signing is the result of several months of negotiations between the Governor's office, Sematech and the university, following Pataki's July 2002 announcement of the international initiative. Sematech is a consortium of the world's 12 major computer-chip manufacturers.
"I am proud to say that the contract for International SEMATECH North is signed, sealed and delivered," Governor Pataki said Tuesday's event. "Years from now we will look back on today as an important milestone in New York's transformation into a worldwide powerhouse in high-tech and biotech research, job creation and economic growth."
The new facility at the University at Albany will be called International Sematech North. The agreement between New York State and International Sematech includes approximately $400 million in state and industry support over the next five years, consisting of $210 million from the State (including $50 million previously announced for the Center of Excellence at Albany and included in the 2002-03 State Budget) and $193 million from International Sematech and its member companies, including IBM.
The State's investment is primarily for capital construction, equipment and specialized tools for International Sematech North research. International Sematech North will employ more than 500 high tech researchers when fully operational, including those from Sematech, its member companies and others.
The State has already committed nearly $120 million toward micro and nanoelectronics for the University at Albany's Center for Environmental Science and Technology Management building. This includes the $50 million previously announced for the Albany Center of Excellence in Nanoelectronics for 300 millimeter research.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
