Rochester Business Journal

At least 500 jobs that focus on the semiconductor industry will be created over the next five years in the Rochester area under an initiative announced Wednesday by Gov. Andrew Cuomo.

The state will partner with more than 100 companies — led by IBM Corp. and Austin, Texas-based Sematech, a not-for-profit consortium that performs research and development to advance chip manufacturing — to launch the New York Power Electronics Consortium. The consortium will invest more than $500 million focusing on the development and manufacture of the next generation of materials used in semiconductors.

“This partnership in Rochester will continue the success of the nanotechnology industry which has put the upstate economy on a much different trajectory and is making a real difference in our communities,” Cuomo said in a statement. “To keep businesses here we must continue to stay ahead of the curve, and this investment in Rochester is doing exactly that—building, maintaining and attracting the workforce and companies of tomorrow.”

Read More