Cuomo to Announce IBM Plan in Buffalo Bringing 500 New Jobs

On Monday, IBM and Governor Cuomo are prepared to make an announcement regarding the major agreement that will be bringing 500 high tech jobs to city of Buffalo. The new state owned 100,000 square foot center of computer information technology will receive $55 million from the city. The exact location has not yet been determined. Plans are for the new center to open early 2015 and the 500 high-paying (described) jobs are expected to be filled over the following 3-5 years, according to The Buffalo News.

This project with IBM is part of the Buffalo Billion Plan that Cuomo’s responsible for. In addition, IBM has committed in the agreement to retain at minimum 3,100 high-tech positions, mostly in the County of Dutchess throughout 2016. Last year downsizing affected approximately 750 positions, so the job commitment includes an increase to off-set the loss. Administration officials said that the job agreement is for the positions in the sectors of semiconductors and related fields and will largely impact the Poughkeepsie and East Fishkill facilities, but also the Westchester County, Albany, and Yorktown Heights facilities of IBM.

The announcement made on Monday is also expected to release details about the deal’s plans to expand investments in nanotechnology in New York. IBM was a majority player with the state in 2011 when they made a deal for a 5 year, nearly $5 billion investment into R&D of nanotechnology. Headquartered in Armonk, Westchester County, this makes the employment future more optimistic. This has many people happy since the future of New York’s IBM and Hudson Valley has been questionable.

Last September, nearly 700 jobs were cut by IBM in East Fishkill and Poughkeepsie in a lengthy series of layoffs across the area. Currently, IBM employees around 7,500 people in Dutchess and those remaining jobs futures in the agreement are unclear at this time. The local people of Dutchess County was braced for additional layoffs this week when IBM is expected to make an announcement of more number of job layoffs around the world. However, the deal between IBM and the state may keep the local impact from being severe.

IBM did not make any comment about the agreement they have in place with Cuomo on Sunday.

IBM and NY have also partnered up at Albany’s SUNY College of Nanoscale Science & Engineering on a major investment, requiring IBM to keep on a specific level of employment numbers at the operations center in New York. At this time, it is seen that the new deal will force IBM to retain 2,350 semiconductor field jobs while adding 750 jobs. Over recent years, Albany’s nanocenter has branched out with multiple development facilities in Ontario County, Utica, Buffalo, and Canandaigua. It is unclear what IBM will receive in state incentives from the deal. Over recent years, IBM has been criticized for the New York tax breaks they have received amid their layoffs. According to a report released last week, IBM received tax breaks from the local and state governments in NY in approximately $880 million to expand their operations.

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