Half of the money will be provided by New York State, which has ambitions to become a centre for chip excellence.
Sematech members include Micron, Intel, AMD, Qimonda, Samsung, Renesas, Spansion, HP, Big Blue, TI and others.
Over 1,600 people already work at Sematech Albany, and the numbers will be boosted by another 450 jobs over the next few years.
Sematech specialises in advanced lithography, and claims members of the consortium account for 50 per cent of the worldwide chip community. ยต