Governor Hochul Celebrates Globalfoundries’ $11.6 Billion Investment to Expand Semiconductor Manufacturing Plant … – Empire State Development
Transformative Expansion Project Will Establish a New 358,000 Square-Foot Manufacturing Facility on Existing Campus in Malta, Creating More Than 1,500 Direct Jobs and Thousands of Indirect Jobs
New York State Investment Will Unlock Nation-Leading Commitments to Workforce Development, Sustainability, and Community Investment
Project Will Also Leverage Significant Federal Investment Through CHIPS and Science Act, Solidifying Additional Community Benefits
Once Completed, New Facility Will Help to Grow Domestic ChipmakingCapacity, Bolster National Security, and Drive Unprecedented Local and Statewide Economic Growth in New York’s Capital Region
Builds on Governor Hochul’s Commitment to Establishing a Global Hub for Semiconductor Manufacturing in New York State
Governor Kathy Hochul today announced that Saratoga County-based GlobalFoundries will invest more than $11.6 billion over the next 10 years to expand its existing Fab 8 semiconductor manufacturing site in New York’s Capital Region. The transformative investment will allow the company to immediately expand its existing facility and then build a new, 358,000 square-foot semiconductor manufacturing facility on its campus in Malta, tripling its capacity to meet growing demand for chips, enhancing national security by expanding the United States’ chipmaking capacity, and creating more than 1,500 direct jobs and thousands of indirect jobs. The project builds on Governor Hochul’s successful effort to establish New York State as a global hub for semiconductor research and manufacturing, following the recent announcement of an historic $10 billion partnership to create the first publicly owned High NA EUV Lithography Center at NY CREATES’ Albany NanoTech Complex.
“New York State is becoming the best place on earth to build a business,” Governor Hochul said. “Thanks to our pro-business policies, commitment to innovation and best-in-the-nation workforce, green jobs and high-tech manufacturers are flocking to the Empire State. This $11 billion investment from GlobalFoundries is a game changer, and with the partnership of the Biden administration, New York’s congressional delegation, and all of our local stakeholders, the best is yet to come.”
Empire State Development President CEO and Commissioner Hope Knight said, “Whether through the State’s nation-leading Green CHIPS program that prioritizes community and sustainability or our Office of Strategic Workforce Development that is providing resources to train the next generation of workers, today, New York State is taking concrete actions to reshore the semiconductor industry. Under Governor Hochul’s leadership we are paving the way for economic growth by ensuring that companies like GlobalFoundries are growing here in New York State.”
Read the full press release here.
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