Tech Valley momentum
TIMES UNION
Saturday, March 1, 2008
By LARRY RULISON, Staff writer
State panel gives final OK for $300 million investment at UAlbany's NanoTech complex
Albany -- In a major milestone in the development of New York state's Tech Valley, a state oversight board gave final approval Friday to $300 million in spending for the International Sematech project at the University at Albany.
International Sematech is an offshoot of Sematech Inc., the major computer chip manufacturing consortium that helped Austin, Texas, evolve from an eclectic college town into a high-tech mecca in the 1980s.
F. Michael Tucker, CEO of the Center for Economic Growth, an Albany-based economic development organization, said approval of the project is "critically important in continuing the momentum" of Tech Valley, a large economic development zone that stretches from the Canadian border to Westchester County. "When you make an investment, you can expect dividends, and this project will pay numerous dividends in the form of jobs, new commerce and new investment," Tucker told the Times Union.
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