Dec. 11, 2023 12:01 am ET
New York state is joining chip companies to invest $10 billion in a semiconductor research facility at the University at Albany that is set to include some of the most advanced chip-making equipment in the world.
NY Creates, a nonprofit that oversees the Albany NanoTech Complex where the facility is to be built, will coordinate its construction. It will also use state funds to acquire chip-making equipment from ASML Holding, a Dutch company whose machines can cost hundreds of millions of dollars and are key to making the most advanced chips possible.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
New York has recently announced its partnership with IBM and Micron Technology Inc. in the development of a $10 billion chip research complex. This massive undertaking is designed to bring essential processor technology to the forefront of global innovation.
The project is headed by the American Institute for Research on Integrated Systems (AIRIS), who are in charge of material science research and financing for the new complex. AIRIS, in collaboration with state officials and the Rochester Institute of Technology (RIT), will focus on research and development of advanced semiconductor devices and sensing technology. This collaborative project is expected to generate up to 10,000 jobs and bring an estimated $50 billion in economic activity to the area.
The compound is planned to be based in the Rochester-Finger Lakes region. It will cover an area of more than 1,000 acres, with the research center occupying 300 acres of prime land in the city of Rochester. IBM will supply most of the needed staff and finances, while Micron will provide expertise in new materials for chipmaking.
This investment in semiconductor research and development is seen as a strategic move to make New York competitive in terms of technology. The goal is to establish the state as a major player in this field, and to make a tangible difference in terms of improving technological infrastructure. This will help New Yorkers stay competitive in the ever-changing technological landscape.
This project is promising news for New Yorkers and those involved in semiconductor research and development. As it nears completion, the complex is sure to bring untold benefits to the industry and the economy of the area.
