Intel Locating 450MM East Coast Headquarters in Albany
Five major international computer chip companies will inject $4.4 billion dollars into five new Research and Development operations in Albany Ny to accommodate the ongoing demand to develop the next generation of computer chips.
- New York, NY (1888PressRelease) October 30, 2011 - Five major international computer chip companies will inject $4.4 billion dollars into five new Research and Development operations in Albany New York to accommodate the ongoing demand to develop the next generation of computer chips. Other companies participating are IBM Corp., Global Foundries, Inc., TSMC and Samsung. The broader R&D project, involving all five companies, includes an initiative to support purchasing up to $400 million in tools and equipments from companies within the State of New York.
Albany NY Realtors say this announcement reflects a changing business climate in the State. The Capital Region Multiple Listing Service is encouraged about the influx of people to the area and what it will mean to the real estate industry. Not only will the residential market benefit from this news but commercial real estate in Albany should also see an increase in activity with spin-off companies being a distinct likelihood.
The University at Albany's College of Nanoscale Science and Engineering in Albany, NY will be the focal point and will create roughly 800 jobs at Albany NanoTech and an estimated 1,500 construction jobs.
The Governor of New York, Andrew Cuomo believes this tech push might lay the foundation for the creation of a new computer chip manufacturing hub as well.
In addition to Albany, other new R&D centers will be located in upstate New York including Utica, Canandaigua, East Fishkill and Yorktown Heights. "A better affirmation of our potential you could not ask for", Cuomo said. "These companies could have gone anywhere on the globe. Remember why we won it. At its essence, it is this simple: Because we are New York."
The term "450mm" refers to the size of the wafers the computer chips are built on, and represents the next wave of computer chip technology. The current standard is 300mm.
Real estate agents in Albany and throughout the Capital Region continue to be optimistic about the future of the computer chip industry in this area.
Falvey Real Estate Group, Ltd.
427 New Karner Road
Albany, NY 12205
(518) 452-3912
www.falveygroup.com
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