A historic announcement made last Friday will ensure that the future will find much more than trees in the Luther Forest Technology Park. The tech park is located in the towns of Malta and Stillwater, and finally has a tenant.
Gov. George E. Pataki and Hector Ruiz, chief executive officer of Advanced Micro Devices (AMD), announced plans on Friday at the Albany Center of Excellence to build and operate the most advanced semiconductor manufacturing facility in the world at the Luther Forest Tech Park.
This is truly a historic day, said Pataki.
The multi-billion dollar agree-ment, which Pataki called the largest industrial investment ever made in New York, would allow AMD to construct a $600 million, 1.2 million square-foot facility equipped with approximately $2.6 billion worth of state-of-the-art tools used in the production of 300mm microprocessor computing chips.
"The Hudson Valley is going to be America's next Silicon Valley," said Pataki, "and we're well on our way to achieving that."
The Luther Forest site was selected by AMD after a review of a number of sites nationwide and internationally. New York was selected over competing sites in Europe and Asia.
"This is an enormously com-petitive area," said Pataki.
Ruiz said New York was chosen for its proximity to local high-tech operations. Such operations include the Albany Center of Excellence, SEMATECH, IBM and INVENT. The state was also chosen for its careful planning and dedication to the project, including a $1.2 billion incentive package.
"I have not seen as well-drafted a vision as I have seen in this part of New York," said Ruiz.
The plant is expected to produce 1,200 new high-tech jobs, thousands of construction jobs and more than 3,000 indirect jobs, according to a release from the governor's office.
"Get ready," said Pataki at the announcement. "You're going to have new neighbors and you're going to have more neighbors."