A ribbon-cutting on the future of the Capital Region was held Monday. It was all about Nano-Fab East, a new $150 million building at the NanoTech Complex near Washington Avenue Extension and Fuller Road in Albany.
UAlbany and IBM announced the $1 billion investment that promises 600 new jobs created over the course of five years.
The cutting was seen as a symbol of a major investment at the UAlbany NanoTech Campus and in the Capital Region.
"I'm proud to announce today that IBM will continue its R & D here at the College of [Nanoscale] Science and Engineering into the middle of the next decade to 2013," said Dr. John Kelly of IBM.
"The companies that are part of this expansion, and are investing here, are the world's leaders in nanotechnology," said UAlbany College of Nanoscale Science's Steve Janack.
Those investing companies include IBM, International Simitech and Vistech Lithography. Their new workspaces in Albany need to be staffed with hundreds of scientists, researchers, engineers, students and faculty.
Janack continued, "It also important to recognize that those jobs come at many different levels. Certainly their scientists and researchers, but there are also engineers, technicians, people in just about every walk of life.
By 2013 we expect 600 new jobs as a result of this expansion and, certainly, the more tools we put in place here with new facilities, new space for the companies, makes it more advantageous for new companies to look at this facility and decide to locate here as well."