10/12/2013 11:45:03 AM

Times Union: Sematech contract deepens bond

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Times Union

Excitement over the 1,000 new jobs and $1.5 billion in investment that will materialize in Oneida County from the state's creation of the Nano Utica computer chip consortium nearly overshadowed one critical part of the deal that will result in hundreds of millions of dollars in additional high-tech funding for Albany.

Sematech, the international computer chip consortium that operates at the SUNY College of Nanoscale Science and Engineering on Fuller Road, has agreed to a new five-year, $350 million contract with the NanoCollege.

For the state and the Capital Region, the deal is no less important than the one negotiated back in 2007 when Sematech agreed to move its headquarters to Albany from Austin, Texas, bringing with it nearly 500 jobs.

Under the terms of that previous five-year, $600 million deal, which was signed in 2008, the state put up half the money.

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