New York Invests $1 Billion in $10 Billion Semiconductor Research Center

Collaboration with IBM, Micron, and Applied Materials aims to make New York a global hub for semiconductor research and manufacturing.

New York state is investing $1 billion in a new $10 billion semiconductor research and development center, with the aim of making the region a global hub for semiconductor research and manufacturing.
The project, set to be built at the Albany NanoTech Complex, is a collaboration with chip industry giants including IBM, Micron, and Applied Materials.
The center is expected to create at least 700 new jobs and could generate an estimated $9 billion in private spending.
The investment is intended to enhance New York's bid for research hub designation under the federal CHIPS and Science Act, potentially unlocking over $11 billion in federal funding.
The initiative is part of a broader strategy to boost domestic chip production and reduce reliance on foreign technologies amidst geopolitical tensions and strategic needs.