News

October 04, 2011

Ripple Effect Could Bring Tech To City

By: Jeremy Smerd and Shane Dixon Kavanaugh

Source: Crain's New York Business

Gov. Andrew Cuomo's announcement last week that a handful of high-tech companies will pour $4.4 billion into computer-chip research upstate may also signal success for the city's tech-sector growth plan.

The substantial investment in research and development makes it more likely that companies such as IBM, Intel or Samsung would site corporate headquarters downstate, according to Alain Kaloyeros, chief executive of SUNY-Albany's College of Nanoscale Science and Engineering, who has helped spearhead the state's high-tech strategy. Similarly, technology equipment suppliers such as Applied Materials or Lam Research might bring manufacturing jobs southward.

"The ripple effect would basically move into the city," Mr. Kaloyeros said.

Assembly Speaker Sheldon Silver has for years courted tech companies and could soon reel one in.

Attracting such industry titans would dovetail with the Bloomberg administration's plans for a new engineering campus. Schools are readying proposals, with Stanford University and Cornell University seen as the front-runners.

"I would expect that at some point, an engineering campus will become a part of our ecosystem," said Mr. Kaloyeros.