NY Gov: IBM to invest $1.5 bln in nanotechnology

NEW YORK, July 15 (Reuters) - IBM (IBM.N) will invest $1.5 billion in nanotechnology chip projects, which include an "advanced semiconductor packaging research and development center" that will be located in upstate New York at a site yet to be chosen, Gov. David Paterson said on Tuesday.

The state will contribute $140 million in economic development grants, Paterson added in a statement. (Reporting by Joan Gralla; Editing by James Dalgleish)