EDC Vision August






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Luther Forest attracts a big investor
The world's number two producer of microprocessors for personal computers (behind Intel Corp.) announced it plans to build a $3.2 billion plant in the Luther Forest Technology Park, located in the Town of Malta, Saratoga County.

Governor Pataki welcomed Advanced Micro Devices, Inc., a Sunnyvale, CA-based multinational, pledging, "The Hudson Valley will be America's next Silicon Valley." AMD will benefit from a $1.2 billion incentive package from the state that includes capital grants, tax breaks, and infrastructure improvements to the Luther Forest site.

"The economic impact and associated benefits of having an AMD chip fab in our region cannot be overstated," said Len Fosbrook, EDC president, who expects the project will have a substantial ripple effect on the surrounding area. "The establishment of Albany NanoTech and its continued commitment to mission-driven economic growth have proven to be an effective development strategy. We fully endorse this blueprint for growth and have used aspects of it to further the development of local industry clusters."