• Saratoga Business Report
Wednesday, 01 June 2022 15:47

GlobalFoundries Seeks Approval for Expansion Featured

Written by Mike Piekarski
Rate this item
(0 votes)
Photo from gf.com. Photo from gf.com.

Now it’s up to the federal government. 

GlobalFoundries, the computer-chip maker based in Saratoga County, verified its intention earlier this week to acquire a large parcel of land at the Luther Forest Technology Campus as part of its announced proposal to construct a second manufacturing facility at the site. The purchase, however, is contingent on approval of approximately $52 billion in federal funds by Congress, the CHIPS for America Act, intended to bolster the United States’ semiconductor manufacturing and research capacity.

In an email, Michael Mullaney, GlobalFoundries' corporate communications manager, said: “Since our announcement in July 2021, we have been planning for the expansion of our Malta campus. Preliminary work and initial permitting is under way. As part of the process, we will need additional land to move forward with our expansion. GF currently has an agreement with the Luther Forest Technology Campus to purchase the remainder of the park, approximately 800 acres.”

If the federal legislation is passed, GlobalFoundries will proceed with its new factory, which is expected to encompass 356,000 square feet of manufacturing space scattered across nine buildings that would cover more than 736,000 square feet of property.

GF officials estimated the overall cost of the expansion to be between $6 billion and $8 billion, of which about 85 percent will occur in Malta and 15 percent in Stillwater. Fab 8, the current facility on the campus, employs more than 3,000 people; the new installation is expected to add about 1,000 more employees.

The 800 acres in question currently is considered nonprofit land, which is not taxable. That will be converted to vacant commercial-industrial if GlobalFoundries does indeed purchase it. Future development opportunities on the site thus would be at the discretion of the semiconductor manufacturer, which relocated its world headquarters from Santa Clara, California, to the Luther Forest campus one year ago.

Read 80 times


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.