Federal Grant Boosts GlobalFoundries with $11.5 Billion for New Semiconductor Facility in NY

In a significant move to fortify America's semiconductor industry, the federal government is awarding chip manufacturer GlobalFoundries a staggering $11.5 billion. The substantial grant aims to facilitate the construction of a cutting-edge semiconductor manufacturing facility in Malta, Saratoga County, and further expand its existing operations, positioning the Capital Region as a vital hub for chip production.

The investment, slated to unfold over the next decade, is anticipated to generate thousands of jobs, solidifying the region's role as a cornerstone in the nation's supply chain for essential chips crucial to the automotive industry and national defense. . .