A major economic-development deal in the state will create hundreds of new jobs in Yorktown, Gov. Andrew M. Cuomo announced today.
Through a $4.4 billion investment from five technology companies, including IBM, approximately 6,900 jobs will be created and retained. During the five-year agreement, those companies will create "the next generation of computer chip technology." Research and development facilities will be located in Yorktown Heights, Albany, Canandaigua, Utica, and East Fishkill. In addition, Intel will establish a facility to support the overall project management in Albany.
"This unprecedented private 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," Gov. Cuomo said. "In the last nine months, my administration has worked to create a more confident environment for doing business in New York, and major deals like this one prove that the state is truly open for business."
Cuomo said the agreement would lead to 2,500 additional high-technology positions including:
- 800 at CNSE Albany NanoTech Complex
- 950 at IBM - Yorktown Heights and IBM - East Fishkill
- 450 at SUNY Institute of Technology (SUNYIT) in Utica
- 300 at CNSE's Smart System Technology & Commercialization Center in Canandaigua
Approximately 1,500 construction jobs also will be created in Albany and 400 in Utica. As a result of the investment 2,500 existing jobs in Albany, Canandaigua and East Fishkill will be retained, Cuomo said.
According to a press release from the Governor's office, no private company will receive public money as part of the agreement, except for $400 million at the SUNY College for Nanoscale and Science Engineering (CNSE) in Albany. The investment will include $100 million for energy efficiency and low cost energy allowances. The state investment in CNSE will be made over a five-year period.
"IBM continues to invest in New York because of the strong business climate and talent here, which is the result of Governor Cuomo's leadership in Albany as well as the very close working relationship between the Governor, leaders in New York State government, our local colleges and universities and the business community," Dr. John E. Kelly III, Senior Vice President and Director of IBM Research said in a statement.
State Senator Greg Ball (R-Patterson) said in a statement that he was "cautiously optimistic about the announcement and that he would be happy when the jobs actually come to the area.
"My fear, and it is just an initial reaction given previous history, is that many of these large multinational corporations, and especially IBM, have a track record of grabbing taxpayer dollars while outsourcing American jobs," he said. "We really need to focus as a state on the small and new businesses that create the lion’s share of jobs while having a real and lasting commitment to the community.”
Cuomo said the investment is made up of two projects. The first project, which will be led by IBM and its partners, will focus on making the next two generations of computer chips. These new chips will power advanced systems of all sizes, including, among other things computers and national security applications. This new commitment by IBM brings its total investment in chip technology in New York to more than $10 billion in the last decade.
The second project will focus on transforming existing 300mm technology into the new 450mm technology.