Five technology companies, including I.B.M. will be investing $4 billion in computer-chip research in the Empire State, Governor Andrew Cuomo announced yesterday. The deal with I.B.M., Intel, Samsung, GlobalFoundries, and Taiwan Semiconductor Manufacturing Company will bring thousands of jobs to the state, Cuomo said.

Most of the jobs created by the technology companies will be concentrated in Albany, Yorktown Heights, East Fishkill, Utica, and Canandaigua.

“I think it’s important to remember, as we start this conference – a better affirmation of our potential you could not have,” Cuomo told reporters. “These companies could have gone anywhere on the globe.”

The state will spend $400 million over five years expanding facilities at the University of Albany as part of the deal. Cuomo and other politicians expressed hopes that the chip-manufacturing deal would attract other industries to make investments in New York State.

Read more at The New York Times ^[1].