ANNOUNCEMENT 20 Aug 2015In August 2015, a US state government announced a change in a support programme for the private sector.
NUMBER OF INTERVENTIONS
New York Governor Andrew M. Cuomo announced on August 20, 2015 that ams AG, a multinational company that creates high performance sensor solutions and analog integrated circuits, plans to invest over $2 billion to support a wafer fabrication facility to be constructed at the Nano Utica site in Marcy, New York.
He also announced that GE Global Research will expand its New York global operations to the Mohawk Valley, serving as the anchor tenant of the Computer Chip Commercialization Center (QUAD C) on the campus of SUNY Polytechnic Institute's Colleges of Nanoscale Science and Engineering in Utica.
These public-private partnerships are part of the Governor's Nano Utica initiative. No public funds will be given to the companies, but the state of New York will invest $250 million at QUAD C and the Marcy Nanocenter to support equipment and infrastructure improvements at both locations. The state will own and manage these facilities through SUNY Polytechnic Institute.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.