IBM, Intel Invest $4.4 Billion in Chip Development in NY
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.
Wonder if theres tax breaks involved here as well
Good to see US involvement
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[ Review ] How Much IBM Can Get Away with is the Responsibility of the Media
http://wp.me/p1hDC3-aL
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http://wp.me/p1hDC3-aW
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http://wp.me/p1hDC3-92
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Erm - taxes too high??
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.
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.
The Rent Is Too Damn High?
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...
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. "
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?