Cuomo: $4.4B High-Tech Deal Will Mean 6,900 Jobs

The New York governor?announced?a deal between?Intel, IBM Corp., GlobalFoundries, TSMC and Samsung?to build a next generation of computer chip technology.

ALBANY, N.Y. (AP) -- A $4.4 billion high-tech project involving five global companies will create or retain 6,900 jobs statewide, New York Gov. Andrew Cuomo announced Tuesday.

The announcement made just before former President Bill Clinton's opening remarks at an economic forum involves Intel, IBM Corp., GlobalFoundries, the Taiwan semiconductor maker TSMC and Samsung.

Cuomo said the companies have agreed to build a next generation of computer chip technology.

Facilities will be created or expanded at the nanotechnology center next to the state University at Albany, in Utica, East Fishkill, Canandaigua and Yorktown Heights.

Among the 6,900 jobs to be retained or created, 2,500 will be high-technology positions, Cuomo said.

Clinton is scheduled to speak after noon at Cuomo's economic conference.

The state is providing a matching investment of $400 million in equipment and technology to the state university system, Cuomo said.

"This is a big deal," he said.

John Kelly, senior vice president and director of research at IBM, said the New York-based company's investment in research and development will be $3.6 billion.

The goal of the so-called Global 450 consortium is to produce the next generation of computer wafer, requiring the "unprecedented" cooperation of the five companies.

"This is really about computing systems IBM and others will construct using advance technology," Kelly said.