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New York State has rapidly become a world
class technology center that fosters
innovative ideas and pioneers programs
focused on bringing the most advanced
cutting edge technological products to
market.
This fact was
reinforced by the recent announcement
that International SEMATECH North, a global
consortium of 12 major computer chip manufacturers,
will locate its next generation computer
chip research and development center at
the Center of Excellence in Nanoelectronics
at Albany. In securing this prized facility
over other sites in the U.S., Europe, and
Asia, New York cemented its image as a leader
in chip research and development and elevated
its status around the world as a forerunner
in the technologies of tomorrow.
As a commitment to broadening
its status
as a leader in the high technology and biotechnology
industries, New York has
invested more than $1 billion in the State's
technology business sector, world-class
research laboratories, and academic centers
over the past seven years. New York's financial
incentive programs have boosted investments
in laboratory and clean room space, incubator
space for high-technology company spin-offs,
and state-of-the-art workforce development
programs. These efforts helped secure the
State's standing as fourth in the nation
for high-technology growth according to
a ranking in the February 2002 issue of
Business Facilities magazine.
New York State has pursued the following
innovative initiatives to foster technology
growth:
- Invested $117 million in the development
and commercialization of high-technology
and biotechnology innovations;
- Allocated $280 million to increase the
availability of venture capital for emerging
businesses;
- Assigned $1.7 million to the newly
created Empire State Technology Employment
Incentive Program to help employers attract
highly-trained technical workers;
- Created financial incentives for businesses,
such as the Qualified Emerging Technology
Employment Credit and Qualified Emerging
Technology Company Capital Tax Credit.
New York's National Industry Segment
Rankings:
- 1st in photonics manufacturing employment
with 9,643 jobs;
- 2nd in defense electronics manufacturing
employment with 10,700 jobs;
- 3rd in
the nation in total
high tech manufacturing employment with
83,813 jobs.
Source: American
Electronic Association's Cyberstates 2005--Data are
for 2002.
For more information contact Empire
State Development at 1-800-STATE-NY or 1-800
782-8369.
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