GlobalFoundries’ $11.6 Billion Investment to Expand Semiconductor Manufacturing Plant in Saratoga County

Governor Kathy Hochul announced that GlobalFoundries will invest more than $11.6 billion over the next 10 years to expand its existing Fab 8 semiconductor manufacturing site in New York’s Capital Region. The investment will allow the company to expand its existing facility and then build a new, 358,000 square-foot semiconductor manufacturing facility on its campus in Malta, creating more than 1,500 direct jobs and thousands of indirect jobs. The project is expected to enhance national security by expanding the United States’ chipmaking capacity, and drive unprecedented local and statewide economic growth. The project is being supported with $575 million in performance-based Green CHIPS tax credits in exchange for creating 1,508 direct jobs, and completing its multi-billion-dollar investments.