Nanotechnology Deal Between IBM Corporation and Intel Corporation Creates Optimism for Upstate Economy; Creating 2,500 New Jobs

Published: Oct 10, 2011

Just days after last month's $4.8 billion mega-deal between the state and IBM, Intel and other hi-tech firms, a technology center in Canandaigua, Ontario County, started receiving inquiries from companies interested in locating there. And just days before the announcement, companies from the Hudson Valley toured the GlobalFoundries plant in Saratoga County in hopes of building partnerships with the new $4.6 billion computer chip factory. The activity signals how New York has become a leader in research and development of nanotechnology and could provide the backbone for growth in the stagnant upstate economy, business leaders said.

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