The Capital Region features diverse industry clusters, from biotech and life sciences, nanotechnology and chemical manufacturing to semiconductor development and clean energy production. The area is also home to cutting-edge companies and consortiums, including Regeneron and GlobalFoundries. GlobalFoundries is undergoing a $13 billion modernization of its existing chip fab in Malta and building near it a new state-of-the-art fab – expected to create thousands of manufacturing and 9,000 construction jobs. After constructing an $800 million second campus in Rensselaer County, Regeneron Pharmaceuticals is expanding in Albany and Saratoga counties. 

The Capital Region is home to top-tier universities, with research capabilities that are fueling innovation. The University at Albany’s College of Nanoscale Science and Engineering is located at the Albany Nanotech Complex, designated as the nation’s first National Semiconductor Technology Center. IBM, Micron, Applied Materials, Tokyo Electron and other semiconductor companies have entered a $10 billion partnership with NYS for the first and only publicly owned High NA Extreme Ultraviolet Lithography Center at Nanotech. Rensselaer Polytechnic Institute is the first U.S. university to install IBM’s Quantum System One for quantum computing.