IBM, state announce $1.6 billion investment
The Times Union
July 15, 2008
As expected, Gov. David Paterson announced this morning that the state and IBM Corp. will collaborate on a $1.6 billion economic development deal that will create 1,000 jobs in upstate New York.
The deal includes $1.5 billion from IBM, which has major operations in East Fiskhill in Dutchess County and at the University at Albany’s College of Nanoscale Science and Engineering.
The state will pitch in $140 million.
Part of the deal includes the construction of a 120,000-square-foot computer chip packaging research and development center that will be owned and operated by the NanoCollege somewhere in upstate New York.
IBM will conduct operations at the site, and Renssealer Polytechnic Institute will also be a research partner at the facility, which will eventually employ 675 people.
