The Cuomo administration and GlobalFoundries officially announced today that GloFo will be building a $2 billion R&D center at Luther Forest. The target date for completion is late 2014. The new center is expected to prompt another 1,000 jobs at the site.
The Cuomo admin noted that "no new incentives were provided from the State" for this new project.
From a statement by GlobalFoundries CEO Ajit Manocha:
... [W]e are making significant investments in strengthening our technology leadership, including growing our workforce and adding new capabilities to make Fab 8 [that's Malta] the hub of our global technology operations. New York State's continued support of the semiconductor industry has created a strong collaborative ecosystem and helped pave the way for this additional investment. ...
The long-held hope has been that the Malta fab and the multiple investments at Albany NanoTech would push this area to become a cluster of tech-related projects, with its gravity pulling other stuff to it. Maybe that's starting to happen now. (And if that mysterious Project Azalea takes root here...)
Another small bit that points toward the tech actually being in Tech Valley: The TU's Larry Rulison noticed that Samsung has recently started trying to recruit "semiconductor talent" from the Albany area -- to go work in Austin.
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