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Albany, NY (July 15, 2014) - Governor Andrew M. Cuomo today
announced that the State will partner with over 100 private
companies, led by GE, to launch the New York Power Electronics
Manufacturing Consortium. The Consortium will invest over $500
million and create thousands of high-skilled, high-paying jobs in
Upstate New |York over the next five years – including at least 500
in the Capital region – focusing on the development and manufacture
of the next generation of materials used on semiconductors.

“This partnership will create thousands of new jobs in Upstate
New York, tapping into our highly trained workforce and existing
centers of high tech research and development,” Governor Cuomo
said. "With commitment from our partners, we are advancing New
York's capability to compete in the international marketplace and
make this state the place to develop and manufacture high tech
materials. This investment and partnership today will utilize the
workforce of tomorrow, creating jobs and increasing long-term
investments in New York State."

The New York Power Electronics Manufacturing Consortium
(NY-PEMC) is a public-private partnership that will help develop
the next generation of materials used on semiconductors at the
State-owned R&D facility in Albany. Managed through the newly
merged SUNY College of Nanoscale Science and Engineering
(CNSE)/SUNY Institute of Technology (SUNYIT), this next generation
of semiconductors will enable power devices to get smaller, faster
and more efficient as the current material, silicon, has reached its
entitlement.

GE Chairman and CEO Jeff Immelt said, “GE is proud to support
New York’s Power Electronics Manufacturing Consortium, which
places New York at the forefront of the next revolution in power. By
partnering, we are bringing breakthrough reliable technology to market
faster and at lower cost so our customers and global industries see
major productivity gains and operate at peak efficiency. It is true that
New York is open for business, and I commend Governor Cuomo for
his successful efforts to make the State a place where companies like
GE want to continue to invest and expand.”

The site will act as a global “open-innovation” user-shared facility, which
will enable the expansion and growth of major corporate partners, as
well as small and medium-sized enterprises (SME’s) with a particular
emphasis on MWBE firms and enterprises.

Dr. Alain Kaloyeros, Chief Executive Officer and Officer in Charge,
SUNY CNSE/SUNYIT, said, “Since coming into office Governor Cuomo
has focused squarely on investing in the assets in our State that will
make New York more hospitable for high tech R&D, more attractive for
private investment, more efficient for advanced manufacturing and more
conducive for job creation. Power electronics is one of the fastest
growing global markets and New York is now poised to lead the way
in their continued refinement. Partnering CNSE’s world-class research
and development resources with the combined expertise of our corporate
and university partners will provide tremendous advances for the
business, technology and academic communities. We applaud the
Governor and look forward to great success with the NY-PEMC.”

GE will be a lead partner in the fab, housed at the CNSE Nano Tech
complex, which will develop and produce low cost, high performance
6” silicon carbide (SiC) wafers. These SiC-based power electronic
devices have significant advantages over silicon (Si), including the
capacity to handle much higher frequencies, and temperatures, which
decreases the size and cost for companion filtering and cooling
systems. Additionally, the devices can be half the size of similar
Si devices, providing increased power density and reliability. In
its current form, SiC technology can be cost prohibitive to smaller
to medium size companies. All NY-PEMC partner companies will
have access to state-of-the-art 6” SiC tools and a baseline process
flow, contributed by GE, where they can make their own enhancements
in preparation for high volume, cost effective manufacturing.

Senate Co-Leader Dean Skelos said, “This new consortium and
major new investment will have a positive impact on the economy of
Upstate New York. On a global scale, this announcement means
groundbreaking research, development and manufacturing that will
transform materials used on semiconductors. For our communities, it
means a thousand new jobs for hardworking families. I am pleased
to join the Governor, General Electric CEO Jeff Immelt, and leaders
of a hundreds other businesses who are partnering together on this
exciting project.”

Assembly Speaker Sheldon Silver said, "Nearly two decades ago,
we took a chance and invested in an idea to advance nanotechnology.
That investment paid off and New York is now a world center for nanotech
R&D, manufacturing and commercialization. Today, we are taking yet
another step forward to announce that CNSE has forged a partnership
with an investor group led by G.E. – the legendary American innovator
and longtime global leader in technology and manufacturing to produce
the next generation of semiconductor materials and create hundreds of
jobs. This is proof that our economic development strategies are working.
I and my colleagues in the Assembly Majority remain committed to
working with Governor Cuomo, Dr. Kaloyeros and our colleagues in the
Senate to continue this partnership and opportunities to every corner of
our state."

Senator Hugh T. Farley said “Here in the Capital Region, we have
seen that investments in nanotechnology are paying off—leveraging
investments and greatly boosting the job outlook. Combining
technological innovation and manufacturing, while also partnering with
some of the country's leading corporations, will further cement New York’s
position at the forefront of the industry.  I am pleased to work with
Governor Cuomo, the State University of New York and local
manufacturers in supporting a partnership that will continue to enhance
New York’s economic outlook.”

Senator Cecilia Tkaczyk said, “Developing and implementing new,
cutting-edge technology is absolutely critical for the success of our
economic development and job creation efforts. This public-private
partnership will be a catalyst for high-tech development, and will also
create hundreds of jobs for Upstate New Yorkers. I applaud Governor
Cuomo for his unwavering focus in growing this industry and the
economy, and all of our private sector partners for their hard work
in coming together to form this partnership.”

Senator Neil Breslin said, “Today's announcement is a clear witness
to the Governor's understanding that a partnership of this nature is a
must in order for our state to compete at the national and international
level in terms of technological innovation. This partnership will not only
create hundreds of jobs, but will attract even more investment and
attention to the Capital Region. I thank the Governor, Dr. Kaloyeros,
and our partners at General Electric for their tireless work in growing
both the local and statewide economies, and creating jobs for the
people of this region.”

Assemblyman Phil Steck said, “As technological innovations continue to
grow and develop, it is important that we make targeted investments and
partner with leading companies to ensure that New York State transforms
right alongside technology. I am thrilled that Governor Cuomo has identified
this and helped to implement an efficient public-private partnership, which
will effectively employ these innovations and lead to significant job creation.”

Assemblyman Angelo Santabarbara said, "This partnership combines
some of the Capital Region's best assets- the emerging and successful
nanotechnology complex with some of our greatest companies based here,
all while creating approximately 500 jobs. This is a big win for the people
that live and work here in this area, and I commend Governor Cuomo for
realizing this potential and making this a reality."

Assemblywoman Patricia Fahy said, "This public-private partnership will
not only create hundreds of jobs here in the Capital Region, but will continue
the incredible amount of momentum we've seen so far coming out of CNSE.
Part of what makes our region and New York State stand out in this industry
is our ability to identify growth opportunities and develop right alongside it,
and today's announcement does just that. I applaud Governor Cuomo for his
vision and leadership, as well as those at CNSE and General Electric for all
of their hard work HAHAHAHAHAHA to create this partnership."

Assemblyman John T. McDonald III said, “I applaud the Governor’s efforts
in uniting the public and private sectors to create the best possible methods
for growing our economy. This partnership will be a rewarding investment into
the lives of all New Yorkers, as it plays a crucial role in job creation through a
thriving, modernized approach. I thank Governor Cuomo, those at CNSE and
our private partners for coming together with an idea that will benefit this
economy and create jobs.”

Schenectady County Legislative Chair Anthony Jasenski said, “I applaud the
Governor for continuing to pave the way for groundbreaking technologies
in New York and keeping job growth at the forefront of the state agenda.  
Schenectady County was the birthplace of innovation and we’re excited
about the growth of these highly skilled manufacturing jobs right here in
Schenectady County and throughout the Capital Region.”

APPARENTLY ONLY THE GOVERNMENT CAN MAKE YOU SKILLED

Niskayuna Town Supervisor Joe Landry said, “NY-PEMC is a great example
of private and public cooperation with the purpose of filling the increasing
demand for high-skilled jobs. This partnership promotes private investment
and creates an environment suitable for job growth. I commend Governor
Cuomo for recognizing the importance and potential of technology’s role in
expanding our economy and securing an even better future for the Capital
Region."

Schenectady Mayor Gary McCarthy said, “In order for Schenectady to be
nationally and internationally attractive tobusiness, it is vital to cultivate an
atmosphere supportive of this leading-edge, world-changing technology
that is being developed right here in the Capital Region. I am thrilled that
Governor Cuomo is continuing to place significant emphasis on generating
jobs through this industry and this partnership with GE, which will continue
this expansion and success.”

WHY THE HELL DOES GE NEED A PARTNER?

Albany County Executive Daniel McCoy said, "Albany County is proud to
be home to CNSE, and today's announcement is another testament to the
success that it has spurred for our region. Investing over $500 million and
creating over 500 jobs is an extremely exciting contribution to our local
economy. I thank the Governor, those at CNSE and all of our private
partners for coming together to continue with this success."

Albany Mayor Kathy Sheehan said, “Today's announcement is just another
example of the great things happening in the technology sector in the
Capital Region. I am confident in the success that NY-PEMC will have here
by continuing to expand the high-tech industry as well as push forward
innovative ideas for job growth. I am proud that we have a partner in the
Governor, and his decision to go ahead with this venture will ultimately
provide an even larger economic boost than the region has already
seen with previous growth surrounding CNSE.”

The partnership is enabled by the START-UP NY tax free initiative, in
addition to $135 million in New York State funds provided to CNSE for
the establishment of the NY-PEMC facilities, which will attract $365 million
in private funds and know-how to support personnel, equipment and
process flow, tool installation, facilities and materials for a total 5-year
investment of $500 million. Collaboration with CNSE will enable the
expansion and growth of both major corporate partners and small and
medium-sized enterprises within a vibrant power electronics device
and systems integration eco-system.

Quoted from DemocraticVoiceOfReason

The good news keeps coming.  Look for some more good news for our community later this week and in the weeks and months ahead.

Quoted from MOONGLOW

Can you please be more specific?

Quoted from DemocraticVoiceOfReason

You will hear the specifics when the announcements are made.

Quoted from DemocraticVoiceOfReason

You will hear the specifics when the announcements are made.

Quoted from 55tbird

In other words, you don't know sh*t

Quoted from DemocraticVoiceOfReason

I know a lot more than you can imagine.  I also know how to keep a secret.