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Cuomo Announces Billion Dollar Tech Investment, Brings Jobs to Yorktown

Governor Andrew Cuomo announced Tuesday a $4.4 billion investment in agreements with five leading international companies, one of them located in Yorktown, with the potential to add thousands of jobs.

“The agreements mark an historic level of private investment in the nanotechnology sector in New York,” said the press release announcing the agreements. The investment is to create the next generation computer chip technology in New York. The five companies involved are Intel, IBM, GlobalFoundries, TSMC and Samsung. The research and development facilities will be located in Albany, Canandaigua, Utica, East Fishkill and Yorktown Heights.

"This unprecedented private investment in New York's economy will createthousands of jobs and make the state the epicenter for the next generationof computer chip technology," Governor Cuomo said. "IBM, which iscelebrating 100 years in New York, Intel, which is making its mostsignificant investment in New York, as well as TSMC, Global Foundries and Samsung now recognize that the state is on its way to becoming a premier location for jobs, which is why these companies are making this major investment.”An estimated 950 high-technology jobs will be created at the IBM in Yorktown and East Fishkill. An estimated 6,900 jobs will be retained, and 2,500 additional high-technology positions created.

"This year is IBM's centennial year and our company has beeninventing, innovating and leading for 100 years all of it with ourheadquarters right here in New York State,” said Dr. John E. Kelly III, Senior Vice President and Director of IBM Research. “IBM continues to invest in New York because of the strong business climate and talent here, which is the result of Governor Cuomo's leadership in Albany as well as the very close working relationship between the Governor, leaders in New York State government, our local colleges and universities and the business community."

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