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

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.

  • mister g
    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.
  • baddad
    Why do you Think they left?
    Too many regulations and earthquakes in Cali
    Wonder if theres tax breaks involved here as well
    Good to see US involvement
  • acadia11
    Wow, investing in America, what government would do that. That's such a dumb idea.
  • larkforsure
    Complaint with IBM China CSR on Centennial

    How Much IBM Can Get Away with is the Responsibility of the Media

    IBM Advised to Treat its People with Humanism in China

    Tragedy of Labor Rights Repression in IBM China

    Scandal stricken IBM detained mother of ex-employee on the day of centennial
  • fazers_on_stun
    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.
  • mortsmi7
    larkforsure Complaint with IBM China CSR on CentennialSorry, 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.
    Kudos for not outsourcing.
  • Why do you Think they left?
    The Rent Is Too Damn High?
  • jsc
    The money would go a lot farther in a right-to-work state.