• Saratoga Business Report
Monday, 26 July 2021 13:26

GlobalFoundries Announces Expansion Featured

Written by Saratoga TODAY
Rate this item
(0 votes)
GlobalFoundries announces plans on July 19, 2021 at its Fab 8 in Malta to build a new fab on its local campus to support U.S. semiconductor manufacturing. Photo: @Globalfoundries. GlobalFoundries announces plans on July 19, 2021 at its Fab 8 in Malta to build a new fab on its local campus to support U.S. semiconductor manufacturing. Photo: @Globalfoundries.

MALTA — GlobalFoundries announced its expansion plans for its most advanced manufacturing facility in upstate New York over the coming years. The plans include immediate investments to address the global chip shortage at its existing Fab 8 facility as well as construction of a new fab on the same campus that will double the site’s capacity. 

The announcement was made July 19 as the company convened leaders from government and industry to progress the national discussion around solving U.S. semiconductor supply chain challenges. CEO Tom Caulfield was joined by U.S. Senate Majority Leader Chuck Schumer, U.S. Secretary of Commerce Gina M. Raimondo, former Pentagon officials, and executives from leading companies throughout the semiconductor supply chain.   

GF will invest $1 billion to immediately add an additional 150,000 wafers per year within its existing fab to help address the global chip shortage and plans to construct a new fab that will create more than 1,000 new direct high-tech jobs and thousands more indirect jobs including high-paying construction jobs for the region, according to the company. 

Following the successful investment model of Fab 8, GF is planning to fund the new facility through private-public partnerships including customers, federal and state investments. This new capacity will serve the growing demand for secure, feature-rich chips needed by high-growth markets including automotive, 5G connectivity and the Internet of Things. The facility will also support national security requirements for a secure supply chain. 

The company recently announced a new fab in Singapore and $1 billion planned investment to expand in Germany as part of its broader global expansion plans to meet the growing demand from customers worldwide. 

“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,” GF CEO Tom Caulfield said July 19.  “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.” 

“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,” said U.S. Sen. Charles Schumer. “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.” 

GF employs more than 15,000 worldwide with 7,000 people across the U.S., and nearly 3,000 at its headquarters in Malta, New York. 

GF is owned by Mubadala Investment Company. For more information, visit www.gf.com.

Read 193 times Last modified on Monday, 26 July 2021 13:29

Contact

Saratoga Business Report
2254 Route 50 South
Saratoga Springs, NY 12866

This email address is being protected from spambots. You need JavaScript enabled to view it.

Copyright 2021 Saratoga Business Report

Website Design and Maintenance by Spa City Digital