In line with the growing semiconductor sector in the Capital Region, companies from that industry contributed spent more on business-funded research and development than ever at local colleges in 2020.
Companies including IBM, Applied Materials and Tokyo Electron – all operating at the Albany NanoTech Complex – contributed $160.3 million in R&D investment at colleges in the region, an increase of 22.8% from the previous year, according to an analysis by the Center for Economic Growth of new data from the National Center for Science and Engineering Statistics.
Since 2018, that business investment has increased by 67.7%, with SUNY Polytechnic Institute receiving the most. Businesses are now a close second to the federal government regarding R&D investment in the Capital Region.
In total, eight colleges and universities in the region spent $604.7 million on R&D in 2020, the most in seven years. More than 60% of that went toward research in engineering, likely semiconductors.
The 2020 spending follows two tech centers that opened in the region in 2019. Applied Materials opened the Material Engineering Technology Accelerator (META) Center at SUNY Poly's Albany campus. And IBM launched its AI Hardware Center on site and is continuing to invest in that project.
The Albany NanoTech Complex is also in the running to be the site of the National Semiconductor Technology Center, which would bring at least 1,000 high-paying jobs to the area. Sen. Chuck Schumer has been a public supporter of the Albany site's bid.
Aside from the R&D investment, leaders think announcements like an expansion of partnership with IBM and Intel at Albany NanoTech, as well as a recent chip breakthrough there from IBM, will support Albany's candidacy.
A worldwide surge in demand for computer chips is currently driving companies, such as GlobalFoundries in Malta, to expand production capacity.
IBM and more than 40 other business and academic leaders sent a letter to the U.S. Congress in January urging leaders to act regarding the shortage by passing legislation that would establish the NSTC and accelerate investment in new manufacturing facilities.
