NY Investing $135M In Nanotech Initiative With GE

NISKAYUNA, N.Y. (AP) -- New York state is teaming with General Electric and other companies on a $500 million initiative to spur research and development in miniature electronic components.

Gov. Andrew Cuomo joined GE CEO Jeffrey Immelt on Tuesday at the Fairfield, Connecticut, company's upstate research center to announce the manufacturing consortium. The state will invest $135 million, with GE and other private companies expected to contribute the remaining $365 million.

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