$1.5 Billion awarded to GlobalFoundries Expansion

ALBANY, N.Y. (NEWS10)--- GlobalFoundries, a semiconductor company, will be receiving $1.5 billion dollars from the federal Government to expand its current facility and build a brand-new chip manufacturing plant at its Capital region location.

"GlobalFoundries is one of only four companies around the world that produces these current and mature chips outside of China," explained U.S. Commerce Deputy Secretary, Don Graves."It’s the only company headquartered in the United States. So, this brand-new facility in Malta is going to be able to produce the types of chips that will ensure we are never held hostage to other countries and their desire to give us chips or not."

Graves said a portion of the money will also be put towards revitalizing the company’s facility in Vermont.

Here in New York, it’s expected to create 1,000 manufacturing jobs and 8,000 construction jobs.

Senate Majority Leader Chuck Schumer spoke about the investment on the floor of the U.S. Senate.

"The CHIPS award is now locked in," said Schumer. "The agreement is signed, sealed, and delivered. In fact, ready to deliver a better future for upstate NY and for America. Importantly, this funding is protected for years to come."

Deputy Secretary was asked if he had any concerns about Chip manufacturing moving forward in the future with a different administration.

"I don’t have any concerns," said Graves. "The CHIPS and Science Act had wide bipartisan support. It’s something that the previous administration supported in terms of a focus on semi-conductors. It’s something that Democrats, Republicans and everyone in between has been very supportive of."

The goal is to make New York a hub for chip manufacturing. Back in October, it was announced that the first national semiconductor technology center would be located at the Albany Nanotech Complex, an $825 million-dollar initial federal investment. In Central New York, Micron is expected to create 50,000 jobs in the state over the next 20+ years.