New York Governor Kathy Hochul has announced a $10 billion partnership with leaders from the semiconductor industry to establish a semiconductor research and development center at NY CREATES' Albany NanoTech Complex.

This partnership will support the long-term growth of New York's tech economy, create thousands of jobs, and retain existing ones.

The center will support the research and development of the world's most complex and powerful semiconductors, and make New York State home to the nation's most advanced, publicly owned semiconductor R&D infrastructure.

At least $9 billion will be used to create 700 new direct jobs and establish significant commitments to support and build talent development pipelines, including partnerships with the State University of New York (SUNY).

IBM, Micron, Applied Materials, and Tokyo Electron have committed to either expanding or initiating support for workforce development programming, including investments in SUNY, Rensselaer Polytechnic Institute, and other public and private workforce development activities.

They will also support K-12 STEM academic programs, training, internships, and experiential learning for undergraduate and graduate students in engineering and related STEM fields, and academic research partnerships.

"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," said Governor Hochul. "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 workforce development and sustainability commitments. My administration will keep working with elected and industry leaders to make New York a global chipmaking superpower."

Once built, New York's High NA EUV Center will position the state as a destination for research and development of the innovative chip technology that powers nearly every smartphone, tablet, laptop, and computer server today.

The Center will also foster international partnerships as world-renowned research organizations expand their presence here, drawing businesses from around the globe.

In addition, this partnership will significantly enhance New York State's position as a leading candidate to secure anchor hub status under the federal National Semiconductor Technology Center.

This designation has the potential to unlock more than $11 billion in federal CHIPS and Science Act funding.