© 2024 Innovation Trail

IBM, Intel invest $4.4 billion in Albany area nanotechnology

A collaborative of tech companies are investing in a facility to manufacture the next wave of powerful computer chips in the Albany area.
via Flickr
A collaborative of tech companies are investing in a facility to manufacture the next wave of powerful computer chips in the Albany area.

Today in your Trail Mix: computer chips.

A multi-billion dollar investment by a collaboration of private firms is being made in the Albany area.

Offshore wind in Lake Ontario or Erie is officially dead.

A state union vetoes a contract proposal, setting in motion layoffs.

Nanotech investment

Governor Cuomo says a $4.4 billion investment by several private computing firms is a "really, really big deal" for the Albany area's nanotechnology cluster (Jimmy Vielkind, Times Union).

The incentive package from the state for the deal will consist mostly of subsidized power and a new facility for the College of Nanoscale Science and Engineering in Albany - not cash for the companies involved (Andrea Deckert, Rochester Business Journal).

At the New York Times, Thomas Kaplan says the governor sounded "downright giddy."

Jimmy Vielkind reports at Capitol Confidential that New York backed nano "before it was cool."

The announcement isn't just promising jobs for Tech Valley though - 300 new positions are predicted for Canandaigua's Smart System Technology & Commercialization Center, outside of Rochester (Joseph Spector, Gannett).

The Mohawk Valley is also projected to pick up about 850 jobs at SUNY IT (Traci DeLore, Mohawk Valley Business Journal).

Sick of all this good news out of Tech Valley?  Well at least a symposium scheduled for October at SUNY Albany is canceled (Larry Rulison, The Buzz).


The Great Lakes Offshore Wind proposal is officially dead, taking turbines in Lake Erie or Lake Ontario off the table (Emma Jacobs, Innovation Trail).

Draft regulations on hydrofracking have been posted by the DEC- and the dates of the public hearings about them are available now (Rick Karlin, Capitol Confidential).

The DEC is expecting to have to add more than 100 jobs to deal with permitting when hydrofracking begins in New York (Jon Campbell, Vote Up!).

Penn State has picked up $2.5 million from the National Science Foundation to educate people about drilling in the Marcellus Shale (Susan Phillips, State Impact PA).


A "no" vote on a contract offer means that the Public Employees Federation's members will face layoffs to the tune of 3,500 (Rick Karlin, Times Union).

The contract veto and the nanotech investment are two sides of the capital region's job coin - one industry is waning as another waxes (Chris Churchill, Times Union).


Flooding in the Hudson Valley gave Senator Charles Schumer "nightmares," after visiting victims (Jill Terreri, Vote Up!).

Binghamton officials are working on a proposal to help businesses hit hard by flooding (Nancy Dooling, Press & Sun-Bulletin).

National Grid is planning to spend $6 million in counties that qualified for disaster aid, to help towns and businesses affected by the tropical storms (Tim Knauss, Post-Standard).


The inventor of the pacemaker has died in Buffalo at 92 (Jay Rey, Buffalo News).

The University of Rochester Medical Center is considering consolidating with Thompson Health (Patti Singer, Democrat and Chronicle).

Want Trail Mix delivered fresh to your reader, every day? Subscribe to the feed.

Related Content