Last Monday, Gov. Cuomo announced an economic development agreement with IBM that will protect current jobs in the Hudson Valley and create new ones in Western New York.
IBM will create 500 jobs at the Buffalo Information Technologies Innovation and Commercialization Hub, a new, 100,000-square-foot, state-owned computer information technology (IT) center. The state will provide $55 million to build the center, whose precise location has not been determined, as well as an additional $30 million will go for the purchase of various software, computers and servers. The state hopes that other private sector IT companies will move into the facility as well.
The agreement also requires IBM to maintain some 2,350 jobs in the semiconductor field, most of which are located in the Hudson Valley.