GlobalFoundries (GF) announced its expansion plans for its most advanced manufacturing facility in upstate New York.
GF will invest $1 billion to immediately add an additional 150,000 wafers per year within its existing Fab 8 to help address the global chip shortage. Following that, GF plans to construct a new fab that will create more than 1,000 new high-tech jobs.
GF recently announced new fab in Singapore and $1 billion planned investment to expand in Germany.
"Our expansion and job creation in Malta requires a new economic model, based on the bold public-private partnerships being championed in Washington by visionary leaders Senator Schumer and Secretary Raimondo, as well as close collaboration with our customers," said GF CEO Tom Caulfield. "Our industry is expected to grow more in the next decade than it did in the past 50 years and GF is stepping up to do its part as we work together to address the growing demand for technology innovation for the betterment of humanity. We are honored to be joined by government and automotive leaders, national security experts, and our valued customers to continue the critical discussions needed to create a reliable supply of American-made chips to support the U.S. economy and national security."
"I've led the fight to establish historic federal incentives for semiconductor manufacturing and R&D to strengthen the domestic semiconductor supply chain that is critical to our national security and global competitiveness, including addressing the chip shortage impacting industries across the economy, all in hopes of bringing us to announcements like this today," said Sen. Schumer. "As Majority Leader, I worked hard with companies like GlobalFoundries to craft and pass the bipartisan U.S. Competition and Innovation Act, providing $52 billion to expand the domestic semiconductor industry and supercharge the GlobalFoundries expansion of Fab 8 and building a new fab in Malta. Today's announcement is a win-win-win: a win for jobs in the Capital Region, a win for GlobalFoundries, and a win for U.S. government, automakers, and other critical industries that desperately need chips."
