Last week, Harvard Business School unveiled the results of a comprehensive research initiative called the “U.S. Competitiveness Project,” an effort to understand and improve the competitiveness of the United States.
Once again, New York’s Capital Region was cited as a leading regional center of excellence, with GLOBALFOUNDRIES specifically recognized as one of the leading semiconductor manufactures investing in the new R&D and manufacturing operations now driving innovation, creating new jobs, and increasing economic opportunities throughout the region.
In her article, “Enriching the Ecosystem,” part of the March 2012 special issue of Harvard Business Review dedicated to the topic of U.S. Competitiveness, Rosabeth Moss Kanter, Harvard Business School’s Ernest L. Aruckle Professor of Business Administration, specifically references the work GF and others are doing in New York’s Capital Region as a concrete example of how to improve U.S. competitiveness, strengthen the U.S. economy, and ultimately help the global economy bounce back.
“Regional centers of excellence…connect basic science to innovation and venture creation. For example, in 2004 the State University of New York at Albany created a College of Nanoscale Science and Engineering, a global first. At the accompanying center of excellence in nanoelectronics—a field essential for the IT industry—engineers from 250 corporate partners can work alongside students and faculty, while SUNY’s business school facilitates spin-off ventures. In September 2011, leading semiconductor manufacturers—including IBM, Intel, Samsung, Taiwan Semiconductor, and GF—committed $4.4 billion to develop advanced chip technologies at the center; $3.6 billion of it came from IBM.”
After decades of economic stagnation, it’s exciting to see upstate New York returning as a prominent and prosperous business ecosystem thanks in part to the unique capabilities, investments and involvement of companies like GF.