IBM (NYSE: IBM) reportedly will announce an expansion of its operations in Albany, N.Y. on Tuesday, according to The Business Review in Albany.
Last month, Gannett News Service reported that IBM and state officials were negotiating a $90 million aid package that would “spur more than $2 billion in private-sector investment” by IBM over five years.
New York wants IBM to not only keep jobs at a semiconductor plant it operates in East Fishkill, N.Y. but also to boost IBM’s involvement in a nanoscale science and engineering program at the University of Albany.
A press conference is set for Tuesday morning, and N.Y. Gov. David Patterson is among the speakers. The announcement could include hundreds of jobs, the Albany newspaper said.
The expansion also could be related to the electronic chip manufacturing consortium known as Sematech, which the paper noted is moving its headquarters to Albany from Austin, Texas. IBM is part of the consortium.
IBM employs more than 11,000 people at its campus across Research Triangle Park, N.C.