March 22, 2011
By: by The Wall Street Journal
ALBANY, N.Y. - Gov. Andrew Cuomo says a Silicon Valley company is moving its operation to New York, bringing up to 50 high-tech jobs.
The company called Group4 Labs Inc. uses synthetic diamonds to create energy-efficient semiconductor wafers. It will relocate to the Nanoscale Science and Engineering manufacturing facility at the state University at Albany. The Fremont, Calif. company recently announced plans for a manufacturing and test plant in Syracuse that's projected to have 94 jobs by 2015.
Group4's move to Albany comes with $1.5 million from the state Energy Research and Development Authority, which says Monday the company is expected to use that money to obtain $4 million in private sector funds.
Its products are used in radar, smartphones, tablet computers and cellphone transmission towers.