In a recent article by the Wall Street Journal highlighting the “hottest spots” in the United States for starting a new business, Albany, New York, is included as a hub for nanotechnology. “The capital of New York state is becoming a big player in a field that deals with small things—nanotechnology,” states the Journal.

This is especially true since Governor Andrew M. Cuomo announced that five leading technology firms have entered into an agreement with New York State worth $4.4 billion. The companies include, Intel based in Santa Clara, California; IBM, based in Armonk, New York; Samsung, based in Seoul, Korea; GlobalFoundries, based in Milpitas, California; and Taiwan Semiconductor Manufacturing Company (TSMC), based in Hsinchu, Taiwan. “The agreements mark an historic level of private investment in the nanotechnology sector in New York. Research and development facilities will be located in Albany, Canandaigua, Utica, East Fishkill and Yorktown Heights. In addition, Intel separately agreed to establish its 450mm East Coast Headquarters to support the overall project management in Albany,” states an official press release from the Governor’s office.

“No private company will receive any state funds as part of the agreement. To support the project, New York State will invest $400 million in the SUNY College for Nanoscale and Science Engineering (CNSE) in Albany, including $100 million for energy efficiency and low cost energy allowances. The state investment in CNSE will be made over a five year period. The state investment will be directed entirely to CNSE, and all tools and equipment acquired through the investment will be owned by CSNE.”

This progress aligns with New York’s interest in pursuing nanotechnology. To date, New York’s Tech Valley has invested over $13 billion in the industry and the amount keeps growing. New York loves nanotechnology!