January 23, 2007
By: by Richard A. D'Errico, The Business Review
The New York State Office of Science, Technology and Academic Research (NYSTAR) has awarded $750,000 to the state University at Albany's College of Nanoscale Science and Engineering to support a joint research initiative with Vistec Lithography, a U.K.-basked company relocating to the Albany, N.Y., region.
Vistec, which makes equipment for semiconductor manufacturers including Intel Corp. and Advanced Micro Devices Inc., last week opened its research and development operation at the college, which is located on the Albany NanoTech campus. Two researchers have relocated from England. Eventually, 10 researchers will work out of that site.
NYSTAR Executive Director Michael Relyea said the $750,000 comes from NYSTAR's technology transfer incentive program.
Vistec Lithography's president and chairman, Papken DerTorossian, said the money would "play an important role in advancing Vistec's technology and business."
Vistec also will have an operation at the Watervliet Arsenal. The company will use $30 million from the state Assembly and $125 million of its own to retrofit Building 125 at the arsenal and set up R&D and manufacturing facilities. Vistec expects to create 135 jobs at the arsenal.
"They [Vistec] wanted to locate their R&D here," said Alain Kaloyeros, vice president and chief administrative officer of the College of Nanoscale Science. "We made them an offer they couldn't refuse."