GlobalFoundries to Build New Fab in Upstate New York in Private-Public Partnership

[Peter_Brosdahl]

Image: GlobalFoundries



GlobalFoundries is planning to expand its Malta facility in upstate New York with a $1 billion investment to increase production by over 150,000 wafers a year. A new fab will also go into construction, adding thousands of jobs. GlobalFoundries currently employs about 3,000 people at the plant and roughly 7,000 across the nation. Once funding for its Fab 8 facility in Saratoga is complete, it will seek funding for the new plant via public-private partnerships including customers, federal, and state investments. Intel was rumored to be buying GlobalFoundries, but CEO Tom Caulfield says no such talks have happened. It is planning an IPO next year...

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[Brian_B]

huh.

I used to live near Saratoga a lifetime ago. It's not exactly a tech hotbed, but I guess IBM did used to have a lot in and around Upstate, and IBM did sell their fabs off to GF once upon a time.

 

[Dan_D]

It's an unusual decision given that New York isn't where all the factories and tech things are happening right now. New York must have offered one hell of an incentive package to get them to come there.