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IBM, Intel Invest $4.4 Billion in Chip Development in NY

By - Source: Atlanta Post | B 17 comments

IBM and Intel promised to invest $4.4 billion in New York State to promote semiconductor innovation.

IBM is investing the lion's share with $3.6 billion to develop chips in 22 nm and 14 nm. There has been no information how Intel will invest its funds other than transitioning from 300 mm to 450 mm wafer technology, but the combined project is estimated to create a total of 2500 high-tech jobs and another 4900 (including 1900 additional construction jobs) that depend on those newly created positions.

New York governor Andrew Cuomo also said that further investment will come from TSMC, Samsung and Globalfoundries. In return, the government agreed to sink $400 million into the State University of New York College of Nanoscale Science and Engineering. “This unprecedented investment in New York’s economy will create thousands of jobs and make the state the epicenter for the next generation of computer chip technology,” Cuomo said in a statement.

New York desperately needed this investment as it had to deal with a net loss of 1.2 million tax payers over the past 10 years. According to a government report, those who moved to New York had $3.3 billion less income in 2009 than those who left the state. The total net income loss for the state between 2000 and 2009 is estimated at $37 billion.

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  • 2 Hide
    mister g , October 1, 2011 2:10 PM
    I'm not sure if it's New Work that needs the money the most, I thought California was in an even bigger debt problem. Still, investing in the East Coast is bouund to bring business and maybe a little prestige.
  • 7 Hide
    baddad , October 1, 2011 2:31 PM
    Why do you Think they left?
  • 0 Hide
    JAYDEEJOHN , October 1, 2011 2:35 PM
    Too many regulations and earthquakes in Cali
    Wonder if theres tax breaks involved here as well
    Good to see US involvement
  • -5 Hide
    acadia11 , October 1, 2011 3:20 PM
    Wow, investing in America, what government would do that. That's such a dumb idea.
  • 3 Hide
    larkforsure , October 1, 2011 5:40 PM

    [ SOS ] Complaint with IBM China CSR on Centennial

    [ Review ] How Much IBM Can Get Away with is the Responsibility of the Media
    http://wp.me/p1hDC3-aL

    IBM Advised to Treat its People with Humanism in China
    http://wp.me/p1hDC3-aW

    Tragedy of Labor Rights Repression in IBM China
    http://wp.me/p1hDC3-92

    Scandal stricken IBM detained mother of ex-employee on the day of centennial
    http://wp.me/p1hDC3-8I
  • 1 Hide
    fazers_on_stun , October 1, 2011 6:39 PM
    baddadWhy do you Think they left?


    Erm - taxes too high?? :D 

    I guess that if Obama gets his higher taxes, the rich might move elsewhere too after taking all their wealth out of the country. Difference is that those wealthy leaving has hurt NY's budget, but the US deficit is so high, taxing the rich at 100% won't make much of a dent at all in the budget.
  • -2 Hide
    mortsmi7 , October 1, 2011 8:16 PM
    larkforsure[ SOS ] Complaint with IBM China CSR on Centennial

    Sorry, I don't bare sympathy to those that commit suicide, its just another form of murder. I feel you should die trying, not kill yourself after a few fails.
  • 4 Hide
    JOSHSKORN , October 1, 2011 9:53 PM
    Kudos for not outsourcing.
  • 5 Hide
    Anonymous , October 2, 2011 5:29 AM
    Quote:
    Why do you Think they left?

    The Rent Is Too Damn High?
  • 0 Hide
    jsc , October 2, 2011 6:31 AM
    The money would go a lot farther in a right-to-work state.
  • 5 Hide
    Anonymous , October 2, 2011 8:30 PM
    It has nothing to do with taxes dimwits. It has to do with infrastructure. As for rich people moving elsewhere, please tell me you are kidding. Most everywhere else has higher taxes. They aren't going anywhere. They like it here and not just for money reasons. Where else are they going to get millions of smart people to work for them for peanuts? They can find millions of people to work for them elsewhere, but not the smart ones. They need us more than we need them. Quit believing every right wing rhetoric thrown your way.
  • 6 Hide
    Anonymous , October 2, 2011 10:47 PM
    The Man II: +1, apparently not all of us have been blessed with critical thinking skills.

    Rich people could:

    1. Move to Western Europe or Japan and have much higher taxes than they do here, or
    2. Move to any number of random 3rd world shiit-holes, or Asian countries like China with opressive governments and massively polluted air and water.

    They're not going anywhere, and TBH, we'd probably be better off without them anyways.

    I saw Bill O'Reilly hypothetically state that if taxes were raised on the rich, people like him might find it too oppressive and just quit what they do... presumably to go work at McDonalds for minimum wage... Right...
  • -3 Hide
    jsc , October 3, 2011 3:53 AM
    The Man IIIt has nothing to do with taxes dimwits. It has to do with infrastructure. As for rich people moving elsewhere, please tell me you are kidding.

    Reread the last paragraph of the story ...
    "New York desperately needed this investment as it had to deal with a net loss of 1.2 million tax payers over the past 10 years. According to a government report, those who moved to New York had $3.3 billion less income in 2009 than those who left the state. The total net income loss for the state between 2000 and 2009 is estimated at $37 billion. "
  • 0 Hide
    jsc , October 3, 2011 3:54 AM
    As far as I'm concerned, IBM and Intel are simply rewarding bad behavior.
  • 0 Hide
    stonedatheist , October 3, 2011 4:35 AM
    semi-sorta off-topic but... why is Intel going from 22 to 14nm? 16nm is the next node. 14nm is a half-node so they are jumping a node and a half
  • 0 Hide
    eddieroolz , October 3, 2011 9:57 AM
    Why not just come a bit more north to Ontario? :D 
  • 0 Hide
    blackened144 , October 3, 2011 1:43 PM
    The Man IIIt has nothing to do with taxes dimwits. It has to do with infrastructure. As for rich people moving elsewhere, please tell me you are kidding. Most everywhere else has higher taxes. They aren't going anywhere. They like it here and not just for money reasons. Where else are they going to get millions of smart people to work for them for peanuts? They can find millions of people to work for them elsewhere, but not the smart ones. They need us more than we need them. Quit believing every right wing rhetoric thrown your way.

    Its got nothing to do with taxes, yet the states with most people leaving are the ones with the highest state income taxes, like NY and CA, and the states gaining the most people are the states with NO state incomes taxes, like TX and FL.. You are saying that is just a coincidence?