MANHASSET, NY -- President Barack Obama is visiting the NanoTech Complex at the State University of New York in Albany tomorrow, Tuesday, May 8 to show he is behind the goal for advanced manufacturing in the U.S. economy.
The College of Nanoscale Science and Engineering in Albany together with its collaborating partners including Globalfoundries is hosting Obama to shed light on investments in new advanced manufacturing jobs in the hi-tech New York State complex.
The visit, originally planned to be held at Globalfoundries’ Fab 8, was moved to CNSE NanoTech Complex at the State University of New York in Albany for logistical reasons, according to the White House.
President Obama’s visit will highlight what has been labeled as New York’s “Tech Valley”, a major hub for the global technology industry, attracting companies like Globalfoundries, as well as their suppliers, and smaller start-up companies. Research consortia Sematech, Rensselear Polytechnic Institute, and CNSE at the University of Albany are all academic and research feeding arteries to the region.
Tech Valley consists of a 19-county region of eastern New York State that spans from just south of Montreal to just north of New York City.
“The President’s visit highlights the success of this region to create new public-private economic development initiatives,” said Ajit Manocha, CEO, Globalfoundries, in a statement. “On behalf of our more than 12,000 employees worldwide, and our more than 1,500 employees in New York, I thank President Obama and leaders in this region for recognizing the impact our investments are making to create new jobs and develop upstate New York as a premier hub for the global economy.
Fab 8 is semiconductor fab consisting of almost two million square feet with an estimated capital budget of approximately $6.9 billion. It is expected to ramp to volume production in late 2012 with an eventual production capacity of approximately 60,000 wafers per month.
Over the past decade billions of dollars of public and private investment have been poured into Tech Valley to form a technology cluster with more than 200 high-tech companies, including many of the companies, such as Air Liquide, Applied Materials, ASML, KLA-Tencor, M+W Group, Matheson Tri-Gas, and Tokyo Electron Limited.
Since breaking ground on Fab 8 in 2009, Globalfoundries said it has created more than 1,300 new direct jobs with the project, with a workforce drawn from local talent in the region as well as experienced professionals from across the United States and more than 25 countries.
In addition, the project has created an additional 4,300 construction related jobs, according to Globalfoundries.
Tech Valley’s burgeoning semiconductor “ecosystem” is one of several around the U.S. and is an overall trend of binging back manufacturing to America.