Business Facilities - October 2008 - (Page 30)

BUSINESS REPORT New York By Jenny Vickers New York: High-Tech Growth Tapping into fast-growing technology and energy sectors, Gov. David Paterson’s economic development initiatives are helping to strengthen the state’s manufacturing base while attracting new relocations and expansions. W ith a goal of becoming a world leader in the emerging business sectors of hightechnology and energy, New York State has passed new economic development initiatives, such as the Empire State Economic Development Fund (EDF), the Manufacturing Assistance Program (MAP), the Empire Zone Program (EZ), and the Upstate Revitalization Fund, which are spurring innovation and job growth. New York’s high-tech industry received a boost in July when IBM received a $140-million grant from the state to advance nanotechnology and semiconductor R&D, leveraging a more than ten-to-one private investment of $1.5 billion from IBM. NanNEW YORK FAST FACTS Population (2006): 19,306,183 Largest Cities (2005): New York City (8,274,527), Buffalo (279,745), Rochester (211,091), Yonkers (196,425), Syracuse (141,683) Targeted Industries: Energy, Finance, Media, Technology, Agriculture Key Incentives: Empire State Economic Development Fund (EDF), Manufacturing Assistance Program (MAP), Empire Zone Program (EZ), Entrepreneurial Assistance Program (EAP), Environmental Investment Program (EIP) otechnology and semiconductors are becoming increasingly important to meet the growing demand for advanced computer systems, telecommunication devices, and highly complex and multifunctional digital consumer electronic products. This investment will create three projects that include expanding IBM’s operations at the Albany Nano Tech; creating a new, advanced 120,000square-foot semiconductor packaging R&D center in Upstate; and upgrading IBM’s East Fishkill facility with state-of-the-art technology. Overall, the investment is saving 1,000 jobs and creating 325 more. Dr. John E. Kelly III, IBM senior vice president and director of research, recently noted that “these new investments will spur continuing advancements in nanotechnology and semiconductor research and development—including new efforts in semiconductor packaging—propelling IBM chip innovations and solidifying the state’s reputation as a high-technology leader.” The state’s economic development initiatives also are helping manufacturers keep up with the demands of a high-tech future. In January, Welch Allyn, a global manufacturer of medical products in Central New York, received a $1.2-million grant and a Top: An aerial view of the College of Nanoscale Science and Engineering’s $4.2-billion Albany NanoTech Complex. Bottom: The College of Nanoscale Science and Engineering’s Albany NanoTech Complex is said to be the most advanced nanoelectronics research and development facility at any university in the world. 30 OCTOBER 2008 PHOTO CREDIT: EMPIRE STATE DEVELOPMENT

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Business Facilities - October 2008 Contents First Word Snapshots Metro Spotlight: Phoenix, AZ Essential Relocation Tips Metro Spotlight: Fayette County, GA Corporate Moves: Kentucky Austria: Hungry for International Trade Foreign Trade Zones: Global Expansion at Reduced Cost New York is Banking on High-Tech Growth Metro Spotlight: Cuba, MO The Garden State is Growing it's City Centers Information Technology: No Signs of a Slowdown Advertiser Index Inside LiveExchange

Business Facilities - October 2008

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