Governor Andrew M. Cuomo today announced the establishment of a privately-funded $15 million fund as part of the Global 450 Wafer Consortium (G450C) headquartered at the College of Nanoscale Science and Engineering (CNSE) that will support specialized education and training programs designed to increase the opportunities for women and minorities, including Minority and Women-Owned Business Enterprises (MWBEs), to take advantage of New York's fast-growing nanotechnology industry.
The announcement comes as construction nears completion on G450C's new headquarters building, NanoFab Xtension (NanoFab X). The project was done in accordance with the Governor's goal of achieving 20 percent MWBE participation in public construction projects. Working in partnership with the Greater Capital Region Minority Business Association, CNSE has engaged more than 50 MWBE firms for non-specialized equipment, materials, and labor related to the project.
Over the past two years, the state has worked hard to ensure that our Minority and Women-Owned Business Enterprises play a leading role in New York's economic recovery, Governor Cuomo said. This $15 million fund created by leading tech businesses who have chosen New York State to invest in next generation computer chip manufacturing will help create opportunities for students and workers from underrepresented groups to be a part of the state's rapidly growing nanotechnology sector. The College of Nanoscale Science and Engineering has led the way in helping create a high-tech workforce here in New York, and I commend all the corporate partners who joined together to launch this fund that will help ensure the diversity of New York is represented in the nanotech sector.
The education and training initiative is funded by the five leading international companies Intel, IBM, GLOBALFOUNDRIES, TSMC and Samsung that are collectively investing $4.4 billion in G450C, which is spearheaded by CNSE and targets the development of the next generation of computer chip technology in New York State. These leading-edge technology advances may facilitate the possibility of building a 450mm chip manufacturing (chip fab) facility in New York, with these plants projected to cost in excess of $10 billion each.
The fund will support the formulation and implementation of the complete spectrum of education and training programs from elementary education to certificate-level skills training to Master's and doctoral degrees that target the attraction, retention, training, and re-training of students and workers from underrepresented social groups in science and engineering to enable careers in nanotechnology.
Further, the fund will support the design and deployment of an attraction and recruitment strategy to assist qualified individuals from underrepresented social groups in science and engineering to find employment opportunities within the nanotechnology industry in New York. At the same time, the program is designed to nurture and enhance the capacity and aptitude of minority and women-owned enterprises and companies to compete successfully for business opportunities in the burgeoning nanotechnology industry sector in New York through CNSE- sponsored competitiveness training programs.
CNSE Senior Vice President and CEO Dr. Alain Kaloyeros said, Building on the vision and leadership of Governor Andrew Cuomo, which has firmly established New York as the world's leading location for advanced nanotechnology research and manufacturing, this first-of-its-kind initiative showcases the growing opportunities for individuals and businesses throughout the state in this emerging industry. The NanoCollege is delighted to support the Governor's innovative education and training blueprint, which will expand the availability of world-class nanotechnology education and careers, and enable further development of a first-rate high-tech workforce that is essential to fueling the New New York.
Driving the increase in opportunities in New York's burgeoning nanotechnology industry is the establishment of the Global 450 Wafer Consortium (G450C), announced by Governor Cuomo in September 2011. A joint effort of Intel, IBM, GLOBALFOUNDRIES, TSMC and Samsung, and spearheaded by CNSE, G450C is focused on transforming existing 300mm wafer technology into the new 450mm technology. The new technology will produce more than twice the number of chips processed on today's 300 mm wafers, thus lowering costs to deliver future generations of technology with greater value and lower environmental impact.