In July 2008, Governor David A. Paterson, Assembly Speaker Sheldon Silver and Senate Majority Leader Dean G. Skelos announced significant new investments by IBM and New York State, accelerating New York's international leadership in nanotechnology research and development and creating up to 1,000 new high-tech jobs Upstate. The State will provide a total of $140 million in economic development grants, leveraging more than ten-to-one the private investment of $1.5 billion from IBM. The investment will go toward three separate and complementary components of a comprehensive project, supporting the nanotechnology computer chip activities of IBM, including: the expansion of IBM's operations at CNSE's Albany NanoTech Complex, which will result in the creation of 325 new R&D jobs; the creation of a new, advanced 120,000-square-foot semiconductor packaging research and development center at a to-be-determined location in Upstate New York that will be established, managed and owned by CNSE, with IBM conducting operations at that site; and, the upgrading of IBM's East Fishkill facility in Dutchess County.
The three projects will collectively advance nanochip technologies, including cutting-edge chip design, demonstration, and testing, all of which takes place at CNSE's Albany NanoTech Complex. Nano-chips each carry billions of transistors, and applications include high-end personal computers and laptops; high-performance servers and supercomputers; virtual reality and advanced electronic games; medical devices and components; ultra-fast telecommunications devices; "sensor-on-a-chip" systems for anti-terrorism and "soldier-in-the-field" remote monitoring and sensing.