Governor Cuomo Announces 100 Businesses Led by GE to Join $500 Million Partnership with State to Develop Next-Generation Power Electronics, Creating Thousands of Jobs in Capital Region and Upstate

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."

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