Fox Business: NY invests $135M in nanotechnology initiative with
General
Electric, other companies
Published:
Thursday, July 17, 2014 - 12:45
Fox Business
NISKAYUNA, N.Y. – New York state is teaming with General Electric Co. and other companies on a $500 million initiative to spur high-tech manufacturing of miniature electronics, Gov. Andrew Cuomo and GE CEO Jeffrey Immelt announced Tuesday.
The state will invest $135 million for the collaborative program, which will be based out of the SUNY College of Nanoscale Science and Engineering in Albany. Fairfield, Connecticut-based GE and other companies will contribute the remaining $365 million.
The work will focus on the development of new, smaller semiconductors for computers and technology used in many industries, including solar power, health care and aviation.
Immelt said small, powerful semiconductors will be one of a handful of technologies that "are going to define the next 20 or 30 years globally."
"This is going to be at the hub of creating jobs and industries in the future," he said at Tuesday's announcement, held at a GE research office.
The public-private partnership, known as the New York Power Electronics Manufacturing Consortium, will allow private companies to use the facilities at the state's nanotech campus in Albany. University researchers from around the state will also participate.
