Albany, NY (July 15, 2014)

Governor Andrew M. Cuomo today announced that the State will partner with over 100 private companies, led by GE, to launch the New York Power Electronics Manufacturing Consortium. The Consortium will invest over $500 million and create thousands of high-skilled, high-paying jobs in Upstate New York over the next five years – including at least 500 in the Capital region – focusing on the development and manufacture of the next generation of materials used on semiconductors.

“This partnership will create thousands of new jobs in Upstate New York, tapping into our highly trained workforce and existing centers of high tech research and development,” Governor Cuomo said. “With commitment from our partners, we are advancing New York’s capability to compete in the international marketplace and make this state the place to develop and manufacture high tech materials. This investment and partnership today will utilize the workforce of tomorrow, creating jobs and increasing long-term investments in New York State.”

The New York Power Electronics Manufacturing Consortium (NY-PEMC) is a public-private partnership that will help develop the next generation of materials used on semiconductors at the State-owned R&D facility in Albany. Managed through the newly merged SUNY College of Nanoscale Science and Engineering (CNSE)/SUNY Institute of Technology (SUNYIT), this next generation of semiconductors will enable power devices to get smaller, faster and more efficient as the current material, silicon, has reached its entitlement.

GE Chairman and CEO Jeff Immelt said, “GE is proud to support New York’s Power Electronics Manufacturing Consortium, which places New York at the forefront of the next revolution in power. By partnering, we are bringing breakthrough reliable technology to market faster and at lower cost so our customers and global industries see major productivity gains and operate at peak efficiency. It is true that New York is open for business, and I commend Governor Cuomo for his successful efforts to make the State a place where companies like GE want to continue to invest and expand.”

The site will act as a global “open-innovation” user-shared facility, which will enable the expansion and growth of major corporate partners, as well as small and medium-sized enterprises (SME’s) with a particular emphasis on MWBE firms and enterprises.

Dr. Alain Kaloyeros, Chief Executive Officer and Officer in Charge, SUNY CNSE/SUNYIT, said, “Since coming into office Governor Cuomo has focused squarely on investing in the assets in our State that will make New York more hospitable for high tech R&D, more attractive for private investment, more efficient for advanced manufacturing and more conducive for job creation. Power electronics is one of the fastest growing global markets and New York is now poised to lead the way in their continued refinement. Partnering CNSE’s world-class research and development resources with the combined expertise of our corporate and university partners will provide tremendous advances for the business, technology and academic communities. We applaud the Governor and look forward to great success with the NY-PEMC.”

GE will be a lead partner in the fab, housed at the CNSE Nano Tech complex, which will develop and produce low cost, high performance 6” silicon carbide (SiC) wafers. These SiC-based power electronic devices have significant advantages over silicon (Si), including the capacity to handle much higher frequencies, and temperatures, which decreases the size and cost for companion filtering and cooling systems. Additionally, the devices can be half the size of similar Si devices, providing increased power density and reliability. In its current form, SiC technology can be cost prohibitive to smaller to medium size companies. All NY-PEMC partner companies will have access to state-of-the-art 6” SiC tools and a baseline process flow, contributed by GE, where they can make their own enhancements in preparation for high volume, cost effective manufacturing.

Senate Co-Leader Dean Skelos said, “This new consortium and major new investment will have a positive impact on the economy of Upstate New York. On a global scale, this announcement means groundbreaking research, development and manufacturing that will transform materials used on semiconductors. For our communities, it means a thousand new jobs for hardworking families. I am pleased to join the Governor, General Electric CEO Jeff Immelt, and leaders of a hundreds other businesses who are partnering together on this exciting project.”

Assembly Speaker Sheldon Silver said, “Nearly two decades ago, we took a chance and invested in an idea to advance nanotechnology. That investment paid off and New York is now a world center for nanotech R&D, manufacturing and commercialization. Today, we are taking yet another step forward to announce that CNSE has forged a partnership with an investor group led by G.E. – the legendary American innovator and longtime global leader in technology and manufacturing to produce the next generation of semiconductor materials and create hundreds of jobs. This is proof that our economic development strategies are working. I and my colleagues in the Assembly Majority remain committed to working with Governor Cuomo, Dr. Kaloyeros and our colleagues in the Senate to continue this partnership and opportunities to every corner of our state.”

Senator Hugh T. Farley said “Here in the Capital Region, we have seen that investments in nanotechnology are paying off—leveraging investments and greatly boosting the job outlook. Combining technological innovation and manufacturing, while also partnering with some of the country’s leading corporations, will further cement New York’s position at the forefront of the industry.  I am pleased to work with Governor Cuomo, the State University of New York and local manufacturers in supporting a partnership that will continue to enhance New York’s economic outlook.”

Senator Cecilia Tkaczyk said, “Developing and implementing new, cutting-edge technology is absolutely critical for the success of our economic development and job creation efforts. This public-private partnership will be a catalyst for high-tech development, and will also create hundreds of jobs for Upstate New Yorkers. I applaud Governor Cuomo for his unwavering focus in growing this industry and the economy, and all of our private sector partners for their hard work in coming together to form this partnership.”

Senator Neil Breslin said, “Today’s announcement is a clear witness to the Governor’s understanding that a partnership of this nature is a must in order for our state to compete at the national and international level in terms of technological innovation. This partnership will not only create hundreds of jobs, but will attract even more investment and attention to the Capital Region. I thank the Governor, Dr. Kaloyeros, and our partners at General Electric for their tireless work in growing both the local and statewide economies, and creating jobs for the people of this region.”

Assemblyman Phil Steck said, “As technological innovations continue to grow and develop, it is important that we make targeted investments and partner with leading companies to ensure that New York State transforms right alongside technology. I am thrilled that Governor Cuomo has identified this and helped to implement an efficient public-private partnership, which will effectively employ these innovations and lead to significant job creation.”

Assemblyman Angelo Santabarbara said, “This partnership combines some of the Capital Region’s best assets- the emerging and successful nanotechnology complex with some of our greatest companies based here, all while creating approximately 500 jobs. This is a big win for the people that live and work here in this area, and I commend Governor Cuomo for realizing this potential and making this a reality.”

Assemblywoman Patricia Fahy said, “This public-private partnership will not only create hundreds of jobs here in the Capital Region, but will continue the incredible amount of momentum we’ve seen so far coming out of CNSE. Part of what makes our region and New York State stand out in this industry is our ability to identify growth opportunities and develop right alongside it, and today’s announcement does just that. I applaud Governor Cuomo for his vision and leadership, as well as those at CNSE and General Electric for all of their hard work to create this partnership.”

Assemblyman John T. McDonald III said, “I applaud the Governor’s efforts in uniting the public and private sectors to create the best possible methods for growing our economy. This partnership will be a rewarding investment into the lives of all New Yorkers, as it plays a crucial role in job creation through a thriving, modernized approach. I thank Governor Cuomo, those at CNSE and our private partners for coming together with an idea that will benefit this economy and create jobs.”

Schenectady County Legislative Chair Anthony Jasenski said, “I applaud the Governor for continuing to pave the way for groundbreaking technologies in New York and keeping job growth at the forefront of the state agenda.  Schenectady County was the birthplace of innovation and we’re excited about the growth of these highly skilled manufacturing jobs right here in Schenectady County and throughout the Capital Region.”

Niskayuna Town Supervisor Joe Landry said, “NY-PEMC is a great example of private and public cooperation with the purpose of filling the increasing demand for high-skilled jobs. This partnership promotes private investment and creates an environment suitable for job growth. I commend Governor Cuomo for recognizing the importance and potential of technology’s role in expanding our economy and securing an even better future for the Capital Region.”

Schenectady Mayor Gary McCarthy said, “In order for Schenectady to be nationally and internationally attractive to business, it is vital to cultivate an atmosphere supportive of this leading-edge, world-changing technology that is being developed right here in the Capital Region. I am thrilled that Governor Cuomo is continuing to place significant emphasis on generating jobs through this industry and this partnership with GE, which will continue this expansion and success.”

Albany County Executive Daniel McCoy said, “Albany County is proud to be home to CNSE, and today’s announcement is another testament to the success that it has spurred for our region. Investing over $500 million and creating over 500 jobs is an extremely exciting contribution to our local economy. I thank the Governor, those at CNSE and all of our private partners for coming together to continue with this success.”

Albany Mayor Kathy Sheehan said, “Today’s announcement is just another example of the great things happening in the technology sector in the Capital Region. I am confident in the success that NY-PEMC will have here by continuing to expand the high-tech industry as well as push forward innovative ideas for job growth. I am proud that we have a partner in the Governor, and his decision to go ahead with this venture will ultimately provide an even larger economic boost than the region has already seen with previous growth surrounding CNSE.”

The partnership is enabled by the START-UP NY tax free initiative, in addition to $135 million in New York State funds provided to CNSE for the establishment of the NY-PEMC facilities, which will attract $365 million in private funds and know-how to support personnel, equipment and process flow, tool installation, facilities and materials for a total 5-year investment of $500 million. Collaboration with CNSE will enable the expansion and growth of both major corporate partners and small and medium-sized enterprises within a vibrant power electronics device and systems integration eco-system.