Sematech Finalizes $400M Deal for Albany R&D Center

ALBANY-International Sematech and New York State have finalized the deal for Sematech to locate its $400-million computer chip R&D program at the University at Albany’s Center of Excellence in Nanoelectronics. Governor George Pataki and Sematech CTO Betsy Weitzman revealed the final agreement at a ceremony earlier this week.

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.”