United States: IBM to invest $1.5B in New York

The Ottawa Citizen

International Business Machines Corp., the world's biggest computer-services provider, agreed to invest $1.5 billion U.S. for computer-chip manufacturing and research in New York state, creating 1,000 new jobs aided by $140 million in government subsidies. The agreement, announced by the company and state officials, also calls for the company to retain more than 1,000 existing jobs at its East Fishkill research and manufacturing facilities, which are to be upgraded, according to a statement by Gov. David Paterson. New facilities include a semiconductor manufacturing plant and development centre in a still-to-be-determined upstate New York location.