At a pair of events in Schenectady and Rochester, Governor Cuomo announced the creation of a new advanced manufacturing consortium to be housed by the SUNY College of Nanoscale Science and Engineering in Albany, with additional facilities in Rochester, Canandaigua and other sites across Upstate.
The New York Power Electronics Manufacturing Consortium is a $500 million joint venture between the State and over 100 private companies, led by General Electric. The state will provide the consortium with $135 million in public dollars used to leverage $365 million in private investment over the next five years.
The consortium is designed to provide companies of all sizes with the technology, the research and development capabilities, and the resources necessary to develop the next generation of semi-conductor computer chips in upstate New York.
One thousand jobs are expected to be created in the Capital Region while 500 are planned for the Rochester facility, located at the Canal Ponds Business Park in Greece, NY, when it opens next summer.
On the Rochester announcement, Governor Cuomo said:
“This partnership in Rochester will continue the success of the nanotechnology industry which has put the Upstate economy on a much different trajectory and is making a real difference in our communities,” Governor Cuomo said. “Nanotechnology is no longer just a child of the Capital Region—the revolution has spread all across New York, advancing our capacity to compete on an international scale and bring jobs and investment to this state. To keep businesses here we must continue to stay ahead of the curve, and this investment in Rochester is doing exactly that—building, maintaining, and attracting the workforce and companies of tomorrow.”
Businesses and organizations expected to play a part in the Consortium include: General Electric, IBM, SEMATECH, Endicott Interconnect, Lockheed Martin, Binghamton University, Cornell University and the University at Buffalo.
The Albany area has been on the forefront of the nanoscience and nanoscale manufacturing for more than two decades and currently boasts 3,300 jobs at SUNY’s College of Nanoscale Science and Engineering