IBM recently announced the opening of a new semiconductor development and production facility in East Fishkill, New York. It is believed to be the most advanced 300mm semiconductor facility of its kind. According to the IBM press release:

The facility combines IBMis chip-making technologies -- such as copper wiring, silicon-on-insulator -based transistors and improved ("low-k dielectric") insulation...

The move is apparently designed to decrease chip manufacturing costs, due to the larger 300mm wafers as well as improve the ability to bring new products to market quickly.

It will house both development and manufacturing, helping IBM more easily transfer its unique set of chip-making technologies into high-volume production.

"Technology continues to be one of our cornerstones in delivering value to our customers," [IBM President and Chief Executive Officer Sam] Palmisano said. "We are re-invigorating our Microelectronics business and are confident that we have the right formula of technology and expertise with a business that is focused on the strategic areas that play to our strengths."

Work on prototypes has already begun at the facility and volume production will follow later this year.