SEMATECH has reached an unprecedented agreement in principle with the State of New York and the University of Albany NanoCollege. SEMATECH is very pleased for the opportunity to become an anchor partner at the UAlbany NanoCollege's Albany NanoTech complex. As a world leader in setting direction, enabling flexible collaboration, and bridging strategic R&D to manufacturing for the nanoelectronics industry, we believe that the establishment of our International SEMATECH headquarters and operations in New York significantly strengthens our competitiveness and ability to provide our member companies with production-worthy technological innovations that meet the requirements of their technical and business roadmaps.

This represents the second phase of a historic industry-university-government alliance for SEMATECH. Our Albany-based programs will cover the development and commercialization of leading-edge lithography, 3D interconnect, metrology, and other advanced technologies. These programs will be supported by 700 researchers, scientists, engineers, and technicians on site at our International SEMATECH program headquarters in Albany.

SEMATECH's corporate offices and operations in Texas, which include our advanced materials programs and our subsidiaries, ISMI, AMRC, and ATDF will remain in Austin. Texas, SEMATECH, and the State's universities continue to work together on strategies to fund basic emerging Technology R&D infrastructure for Texas.

As such, we are expanding our advanced semiconductor programs, continuing to focus on manufacturing, both tactical and strategic, and exploring new programs in nano- and emerging technologies. We continue to have a robust presence in Texas and New York, as well as global program partnerships around the world.