Andrew Cuomo, the New York Governor has revealed a five years investment plan, which says that Intel, IBM and a number of reputed companies are jointly going to invest an amount of $ 4.4 billion in two research and development projects in New York.

Although, all the details about the projects cannot be known so early, the few details that we surely can get are the subjects of the projects. The first project will concentrate on generating two generations of computer chips. IBM will pilot that project. Intel, IBM, Taiwan Semi-conductor Manufacturing Co., Global Foundries and Samsung will led the other project jointly. The project will focus on developing 450 mm wafer manufacturing technology from a less efficient 300 mm wafer manufacturing technology. These new wafers are believed to be able to reduce the costing and the processing time by producing twice as many chips as the present 300 mm technology produces.

Experts are saying that the investment project has other good impacts too. For instance, as a result of the project there will be nearly 7,000 job vacancies in the area and also extra 2,500 vacancies in varieties of tech complexes. According to Andrew Cuomo, the investment project will also affect the economy by taking an initiative called Made in NY. It will provide support to the purchase of $ 400 in different tools and devices from the companies situated in New York to attract suppliers and manufacturers of these products.

It has been decided that no private company but the New York State will be allowed to invest money in the SUNY College for Nan scale and Science. The New York State is investing an amount of $ 400 in that college.

According to the report of CNET – a history for several years for IBM is to manufacture and develop latest technologies in that region.