Governor Hochul Celebrates the Groundbreaking of Globalfoundries’ New $10 Billion Semiconductor Manufacturing Facility in Saratoga County

Part of a $12.3 Billion Expansion at Luther Forest Technology Campus in Malta That Will Create More Than 1,100 High-Skilled Manufacturing Jobs

New York's $570 Million Investment Further Positions the State as Premier Hub for Domestic Chip Production and Global Leader in Advanced Manufacturing

New Facility Represents the First Phase of Initiative Between U.S. and Japan To Invest Up To $21 Billion at GlobalFoundries' Malta Campus

Governor Kathy Hochul today celebrated the groundbreaking of GlobalFoundries' new $10 billion semiconductor manufacturing facility in Malta, Saratoga County. The new facility is part of a $12.3 billion multi-phase expansion in New York State that includes upgrades to GlobalFoundries' existing facilities and a new Advanced Packaging and Photonics Center. The project will create more than one thousand new good paying manufacturing jobs, support thousands of construction and industry-related jobs in the Capital Region and is supported by a $570 million investment from New York State.

"New York is building the future of American semiconductor manufacturing, and today's groundbreaking marks another major step forward for our state and the Capital Region," Governor Hochul said. "With up to a $21 billion investment, more than 1,100 new manufacturing jobs and thousands of construction jobs, GlobalFoundries is demonstrating what is possible when we invest in our workforce and growing technology industries. This expansion will strengthen our domestic supply chains, create new opportunities for New Yorkers and help ensure that the chips powering our economy are made right here in New York."

GlobalFoundries CEO Tim Breen said, "Today, we're putting shovels in the ground and turning an ambitious partnership into reality. This first-of-its-kind initiative brings together the strengths of the United States, Japan and GF to expand trusted semiconductor manufacturing at a scale that matters. We're proud to build on our long history in New York and deliver the capacity, technology and supply chain resilience our customers and both nations need for the future."

The new facility represents the first phase of a U.S.-Japan initiative to eventually invest up to $21 billion at GlobalFoundries and position the campus to grow into one of the nation's largest semiconductor manufacturing facilities.

New York State is supporting the project with $535 million in 100% performance-based Green CHIPS tax credits as well as $35 million in grants for workforce development and public infrastructure improvements. GlobalFoundries has made significant commitments to benefit the local community and workforce. These include $60 million in direct community investments, providing employees with onsite or adjacent childcare, entering a project labor agreement for construction and committing to onboarding local suppliers and workers. The project includes the construction of a new fab, known as Fab 8.2, that will feature approximately 386,000 square feet of cleanroom space, as well as strategic reinvestments in the existing flagship manufacturing facility to make way for next-generation chip capabilities. The upgraded and expanded manufacturing capacity in Malta will meet rising demand for U.S.-made chips across critical markets, including the automotive, artificial intelligence, aerospace, and other high growth industry sectors.

Empire State Development President, CEO and Commissioner Hope Knight said, "Under Governor Hochul's leadership, New York continues to attract major investments that are creating good-paying jobs and strengthening our advanced manufacturing sector. GlobalFoundries' expansion builds on the Capital Region's established semiconductor industry and skilled workforce, while creating new opportunities for New Yorkers to build careers in a growing field. Today's groundbreaking reinforces our commitment to supporting businesses that are investing in New York's long-term economic future."

Read the full press release here.