A super group of five tech giants led by Intel and IBM will invest $4.4 billion over the next five years developing the next generation of computer chip technology in New York. This joint investment is expected to create nearly 7,000 jobs and retain thousands more, New York Governor Andrew M. Cuomo announced. The rest of the fab five include Globalfoundries, Taiwan Semiconductor Manufacturing Company (TSMC), and Samsung.
"This unprecedented private investment in New York's economy will create thousands of jobs and make the state the epicenter for the next generation of computer chip technology," Governor Cuomo said . "IBM, which is celebrating 100 years in New York, Intel, which is making its most significant investment in New York, as well as TSMC, Globalfoundries 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. In the last nine months, my administration has worked to create a more confident environment for doing business in New York, and major deals like this one prove that the state is truly open for business."
The massive investment will be split into two projects. The first, led by IBM and its partners, will focus on making the next two generation of computer chips for advanced systems of all sizes. A second project, which is a joint effort with all five superpowers, will concentrate on transforming existing 300mm wafer technology into the new 450mm technology. A major benefit of this transition is that the new technology will produce twice as many chips and ultimately lower costs.