Home > News > Putting chips on the table: Deal sought to enhance IBM Fishkill plant, boost UAlbany nanotech center
May 31st, 2008
Putting chips on the table: Deal sought to enhance IBM Fishkill plant, boost UAlbany nanotech center
Abstract:
The Paterson administration is discussing a major economic development deal with IBM to enhance the global corporation's Fishkill chip manufacturing capabilities and expand research and development operations at the University at Albany's nanotechnology center, people close to the talks said Friday.
The deal, which could also include UAlbany's east campus in Rensselaer County, is part of IBM's quest to develop its plant for the next generation of computer chip making.
It would come with heavy investments by the company and substantial support from the state, according to the sources. One of the sources pegged the overall investments well above $1 billion.
IBM and the state teamed up in 2000 in a $2.5 billion project that created the chip plant in Fishkill. That deal involved more than $500 million in state commitments including cash, loans and tax breaks. Most of the incentive package involved $475 million in Empire Zone tax relief in Fishkill.
Source:
timesunion.com
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