A number of pioneers in the semiconductor industry, led by IBM, Intel and Globalfoundries plan to invest approximately $4.4 billion in a New York based chip research and development hub, announced New York governor Andrew M. Cuomo.
The five-year project will be primarily aimed at enhancing the R&D efforts currently being carried out in the upstate New York- region, which already enjoys the reputation of being the country’s chip research and development hub.
A large number of companies including IBM have been facilitating manufacturing, and R&D projects involving chips, in the same region for many years now.
The money invested by all the tech giants will be segmented into two parts - the first focusing on accelerating the development process of the next two generations of computer chips; the other used to upgrade the existing 300 mm wafer manufacturing technology to advanced 450 mm.
"This investment will have other beneficial economic impacts...The project will include a private 'Made in NY' initiative to support the potential purchase of $400 million in certain tools and equipment from companies around New York State to create, attract, and retain manufacturers and suppliers across the state," said Cuomo, as reported (opens in new tab)by CNet.