GlobalFoundries Invests $75M to Expand Malta, New York Clean Room
Area Development Online News Desk (06/01/2010)
Computer chip manufacturer GlobalFoundries announced today that it will proceed with a $75 million expansion of its clean room in Malta, New York, according to the Albany Business Review. The project will add 90,000 square feet to the Saratoga County facility, and add $2 billion to the company's investment in that facility.
"We know that by continuing to invest in New York's high-tech industries, we will better position ourselves as a global leader in new economy innovation and get New York on the path to economic recovery," said Dennis Mullen, chairman and CEO of Empire State Development.
The plant could add up to 200 additional jobs in New York if demand grows for its manufacturing space. Empire State Development is partly financing the project with $15.8 million in cash incentives. The Malta plant is expected to be operational by 2012, and is part of a series of expansion projects by GlobalFoundries.