Updated: April 26, 2021 12:56 PM
Created: April 26, 2021 11:47 AM
GlobalFoundries announced Monday morning that they are officially moving their headquarters from Silicon Valley to Malta.
This announcement follows U.S. Senate Majority Leader Chuck Schumer's push for major federal support in domestic semiconductor manufacturing.
Schumer says the move will allow GlobalFoundries to grow, reduce reliance on foreign-made semiconductors, and create more jobs and boost the local economy.
"This is a huge shot in the arm for our Capital Region economy and is a giant step in our goal to make Albany one of the, well it already is, but to enhance Albany's position as one of the chip fab capitals, not just of America, but of the world," Schumer said.
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