NY invests in nanotech with General Electric

By David Klepper

Published July 15, 2014 7:44pm ET

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NY invests in nanotech with General Electric — New York Gov. Andrew Cuomo, left, General Electric CEO Jeffrey Immelt listen to a speaker during an economic development news conference at GE Global Research on Tuesday, July 15, 2014, in Niskayuna, N.Y. Cuomo joined Immelt Tuesday at the GE research office to announce that New York state is teaming with General Electric and other companies on a $500 million initiative designed to spur research and development in miniature electronic components. (AP Photo/Mike Groll) | Mike Groll

NISKAYUNA, N.Y. (AP) — New York state is teaming with General Electric Co. and other companies on a $500 million initiative to spur high-tech manufacturing of miniature electronics, Gov. Andrew Cuomo and GE CEO Jeffrey Immelt announced Tuesday.

The state will invest $135 million for the collaborative program, which will be based out of the SUNY College of Nanoscale Science and Engineering in Albany. Fairfield, Connecticut-based GE and other companies will contribute the remaining $365 million.

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