Nanotech company to move corporate HQ to Albany area

ALBANY, N.Y. (AP) - The nanotech company building a $4.2 billion computer chip factory in Saratoga County is moving its corporate
headquarters from Dallas to the Watervliet Arsenal near Albany.

M+W Group President and CEO Rick Whitney made the announcement at the University at Albany's College of Nanoscale Science and Engineering Tuesday. He said the move will bring 190 new jobs to the arsenal. M+W already has offices at both the school and arsenal which employ about 70 people when combined.

The deal was brokered by Assembly Speaker Sheldon Silver and Assembly Majority Leader Ronald Canestrari. It will require $6.5 million in state funds to renovate office space at the arsenal.

M+W has built chip plants around the world, including IBM's factory in East Fishkill and the $5 billion Albany NanoTech complex.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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