April 24, 2001 — ALBANY, NY — IBM plans to invest $100 million to help create a Center of Excellence for Nanotechnology, which would include state-of-the-art cleanroom and laboratory space at the State University of New York’s Albany campus.

According to Gov. George Pataki, the state of New York will contribute $50 million for the center, which is expected to employ 400 scientists and 100 technicians when it opens, according to the Associated Press.

“We view this as less a donation and more as an investment,” John Kelly III, vice president and group executive for the IBM Technology Group said.

In addition to the cleanroom space, the facility will house incubator space for high-tech company spinoff ventures and a work force development program. The center will also create the only university-based 300 mm wafer prototype facility in the world.

IBM recently invested $2.5 billion for a chip plant in East Fishkill. New York. In January, the Center of Excellence in Photonics and Optoelectronics opened in Rochester, New York.