New York State partners with IBM and other companies on semiconductor R&D complex

Gov. Kathy Hochul announced a $10 billion partnership with semiconductor industry companies including Armonk-based IBM (NYSE:IBM) on the creation of a research and development center at NY CREATES’ Albany NanoTech Complex.

According to a statement from the governor’s office, the partnership will fund the construction of the High NA Extreme Ultraviolet Lithography Center to support the research and development of the world’s most complex and powerful semiconductors. This new center will be the first publicly owned facility of its kind in North America.

“This $10 billion partnership to bring innovative chips research to the Capital Region should send a message to the entire industry: New York is open for business,” Hochul said. “From our Green CHIPS legislation to Micron’s historic investment and the creation of GO-SEMI, we’re building the future of semiconductor research right here in New York. This industry is creating real opportunity in our state with major regional investments, countless new jobs, and bold commitments to workforce development and sustainability, and my administration will keep working with elected and industry leaders to make New York a global chipmaking superpower.”

In addition to IBM, the state is partnering with Micron, Applied Materials, Tokyo Electron and other companies on this endeavor. The governor added the project will create at least 700 new direct jobs.

“At the New York State Albany NanoTech Complex, IBM and our partners are leading the world in semiconductor R&D advances that make chips smaller, more powerful, and more energy efficient,” said IBM Chairman and CEO Arvind Krishna. “The new High NA EUV Center at Albany NanoTech will secure a strong pipeline for semiconductor innovation, keeping New York State at the center of semiconductor expertise, accelerating the growth of the global chip industry and helping to meet manufacturing demand for new technologies such as generative AI. IBM is proud to call New York State our home, and to support this critical investment towards new breakthroughs in semiconductor technology.”