EDGE PRESENTS RESULTS OF FAB INVESTMENT ECONOMIC IMPACT STUDY

Additional Information

Investment in Marcy NanoCenter would create 5500+ jobs

Steve DiMeo, President of Mohawk Valley EDGE today released the results of an independent study analyzing the economic impact of investment in a semiconductor 'chip fab' at Marcy NanoCenter.

"Today's report confirms what we've believed all along - the siting of a leading-edge fab at Marcy NanoCenter will result in a transformational impact on the Upstate economy not seen in generations."

The study, commissioned in a partnership of National Grid, the Center for Economic Growth (CEG) in Albany, and EDGE, was undertaken by one of the leading semiconductor forecasting and market research firms globally, Semico Research Corporation.

Chair of the EDGE Board of Directors Lawrence Gilroy said, "We're proud to have been part of this due-diligence effort that has revealed just how tremendous an impact investment in Marcy NanoCenter will have on Upstate NY."

Semico Research Corporation President Jim Feldhan said, "We've worked around the globe with companies, universities, and government and few have presented the semiconductor industry the opportunities for growth quite like Upstate New York. Our research has found that with an incentive package totaling $650 million, significant additional investment can be spurred in Upstate New York, resulting in over 5500 jobs over ten years."

National Grid Director of Economic Development for Upstate New York Art Hamlin said, "The vitality of the Mohawk Valley is essential to National Grid, that's why we have been a long-time partner in the effort to bring the semiconductor industry to our region, a region that presents the ideal mix of world class research and development, outstanding workforce and high quality of life required to attract investment by the industry."

Semico Research Corporation was selected in the summer of 2007 through a competitive process to conduct a study examining the required investment by the State of New York in incentive dollars, the number of jobs to be created, the cost per job and the economic impact of those decisions on the Upstate Region. Following seven months of intensive work, Semico determined that if New York State were to commit to a $650 million incentive package over 6 years, the investment would result in 5514 new jobs, at a cost of approximately $117,000 per job. Further, Semico concluded this investment would drive a net economic impact of over $730 million over 10 years.

Center for Economic Growth President F. Michael Tucker said, "We're thrilled to have been part of this important industry research. CEG and the NY Loves Nanotech team have been major proponents of the semiconductor industry in Upstate New York, and this report confirms just how incredible an economic impact the industry would have."

Lamar A. Hill, President of the International Alliance of Nanotechnology Regions said, "Upstate New York is poised to create the first ever nanopolis - connecting R&D at Cornell and UAlbany to workforce development at SUNYIT and manufacturing at Malta and Marcy. I congratulate EDGE, CEG and National Grid on having the vision to make this opportunity a reality."

About EDGE

Mohawk Valley EDGE is a private, not-for-profit, regional economic development agency serving Oneida and Herkimer Counties. EDGE is an integral part of the long-term effort by the public and private sectors to strengthen opportunities for existing businesses and open the door for new businesses and industries to locate, grow and invest in the region.

About the Center for Economic Growth:

The Center for Economic Growth (CEG) is a regional economic and business development organization dedicated to attracting high-tech talent and companies and to providing innovative services to bolster local businesses in New York State's Capital Region and Tech Valley. CEG receives significant financial support from the NYS Foundation for Science, Technology and Innovation (NYSTAR), a public benefit corporation that helps grow New York's innovation economy with its support of high technology development and commercialization through academic and business partnerships, and the National Institute of Standards and Technology (NIST) Manufacturing Extension Partnership (MEP). CEG serves as NYSTAR's designated Regional Technology Development Center for Tech Valley, one of nearly 350 MEP locations across the country assisting local manufacturing and technology companies with generating new sales, creating stronger operational infrastructure and overcoming barriers to growth. CEG is based in Albany, N.Y. Visit www.ceg.org for more information.

About NY Loves Nanotech

The NY Loves Nanotech initiative is coordinated by the Center for Economic Growth (CEG), with sponsorship support from National Grid and use of trademarked name from Empire State Development Corporation. NY Loves Nanotech maintains a Web site at www.nylovesnano.com.

About National Grid

National Grid is an international energy delivery company. In the U.S., National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority. National Grid is the largest power producer in New York State, owning 6,650 megawatts of electricity generation that provides power to over one million LIPA customers and supplies roughly a quarter of New York City's electricity needs. It is also the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in New York, Massachusetts, New Hampshire and Rhode Island.

About Semico

Technology manufacturers, vendors, service providers, technology professionals and market specialists, worldwide, utilize Semico's experienced staff and in-depth research to support critical business, product and technology decisions. Semico's vision is derived from both a deep technology understanding and comprehensive research, which examines each segment of the supply chain for each market. Regular and ongoing end-user demand and primary research surveys are the foundation of the analysis, enabling Semico to provide insightful market analysis and guidance on future market opportunities.

Semico is a strategic partner with leading technology companies, with access to an extensive worldwide electronic network, technology databases and expert personnel. Semico was founded in 1994 by a group of semiconductor industry experts and has offices in Phoenix, California, New York, Japan and Taiwan

For more information, please visit www.marcynanocenter.com.