12/21/2010 3:16:00 PM
Wall Street Journal: Is Eastern New York Becoming a Hot Spot for Tech?
Wall Street Journal
Mention the “Tech Valley” to someone and they could be forgiven for assuming that California’s Silicon Valley is the topic of conversation. The Tech Valley is located in eastern New York and, though it’s not as well known as its sexier West Coast cousin, it is becoming a hot spot for tech companies
- Working at CNSE
Today more than 200 high-tech businesses have a presence in the Tech Valley, a corridor that stretches from the Canadian border to just north of New York City. The region is home to the University of Albany’s College of Nanoscale Science and Engineering, the first (and only) educational institution dedicated solely to the research and development of nanotechnology. And, upon its completion in 2012, a new semiconductor plant being constructed by chip maker Globalfoundries – Fab 8 – will provide the area with 1,400 new jobs. Many of the new employees will be trained at CNSE, but other schools like Rensselaer Polytechnic Institute in Troy will also benefit.
Fab 8’s future employees owe their positions in large part to a state experiment. In 1998 New York began aggressively courting high-tech firms with generous financial incentives in the form of tax breaks and grants. The hope was that the semiconductor industry, one of the largest exporters in the United States, could reinvigorate the state’s economy. Full Article