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GlobalFoundries Expands Malta, New York, Operations

Multinational semiconductor contract manufacturer GlobalFoundries plans to expand operations at its Fab 8 site in Malta, New York. The more than $11.6 billion project is expected to create approximately 1,500 jobs over the next ten years.

The investment will include a new 358,000-square-foot semiconductor manufacturing facility, tripling the campus’ production capacity. Construction is scheduled to begin in 2025.

“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, noted Empire State Development President CEO and Commissioner Hope Knight. “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.”

The project is being supported by $575 million in performance-based Green CHIPS tax credits in exchange for creating 1,508 direct jobs, and completing the multi-billion-dollar investments. Additionally, the company must also meet its community benefits and sustainability requirements. GlobalFoundries will also receive a $30 million infrastructure investment from the State The New York Power Authority—which currently provides GlobalFoundries with 15 megawatts of low-cost power from the ReCharge NY program—will consider further support for this expansion project when its Board of Trustees meets in March.

GlobalFoundries will be required to make at least $60 million in workforce training and community investments and negotiate a plan with Empire State Development that includes academic research and development projects, workforce and talent development, onsite or adjacent childcare, K-12 STEM education programming, and curriculum scholarships and tuition reimbursement. The company will also work with ESD to set a target percentage of permanent hires from targeted census tracts and historically disadvantaged populations. Empire State Development will commit to up to $15 million in spending for workforce development activities related to the project.

“The Power Authority has worked closely with Governor Hochul and Empire State Development to maximize the benefits of low-cost hydropower from the ReCharge NY program throughout the state,” added New York Power Authority President and CEO Justin E. Driscoll. “We are collaborating to support Global Foundries during its successful continued expansion in the Capital Region, launching New York State into a world leader in semiconductor manufacturing.”

GlobalFoundries manufactures integrated circuits on wafers designed for markets such as smart mobile devices, automotive, aerospace and defense, consumer internet of things (IoT) and for data centers and communications infrastructure. The company’s existing Fab 8 facility in Malta produces 400,000 wafers each year.

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