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hrmjustin

(71,265 posts)
Tue Jul 15, 2014, 12:17 PM Jul 2014

GE, NY announce major semiconductor expansion

Joseph Spector

General Electric and other major technology companies, including IBM and GlobalFoundries, announced a major deal today to develop the next generation of semiconductors in upstate New York.

The state is investing $135 million and the private companies will put in $500 million in an agreement that could lead to 1,000 jobs across upstate, state officials and GE leaders said. The new agreement is called the New York Power Electronics Manufacturing Consortium.

“You’re in the area of one of the great innovations of the 21st century early enough to make a difference and create jobs,” GE CEO Jeff Immelt said at the event at GE outside Schenectady.

The agreement is part of the nanocenter at the state University at Albany and will allow companies, large and small, to develop the next wave of computer chips in upstate New York. The nanocenter has research and development hubs across upstate, including in the Buffalo, Rochester and Utica areas.

http://polhudson.lohudblogs.com/2014/07/15/ny-announces-major-semiconductor-deal-with-ge/

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