Lawmakers and economic development officials gathered at GlobalFoundries Tuesday afternoon to discuss the impact of the $1.5 billion in federal funding coming to help the chipmaker build a second facility in Saratoga County.

The Biden administration is providing the funding from the CHIPS and Science Act to strengthen the country’s ability to mass-produce computer chips that are so vital not just for consumers, but also for military electronics.

The money will help the semiconductor giant build a large-scale fabrication center, known as a fab, in Malta.

The company also plans to expand Fab 8, and upgrade a third fab in Burlington, Vermont.

Commerce Secretary Gina Raimondo has called this a “once-in-a-generation investment.”
Global Foundries has created 3,000 jobs and invested $15 billion into the local economy over the last 15 years.

The money will triple the capacity of GlobalFoundries, bringing 1,500 new manufacturing jobs and 9,000 construction jobs.

It also provides an enormous shot in the arm toward supercharging U.S. manufacturing, and establishing Upstate New York as a worldwide hub for semiconductor production.

The advanced chips manufactured here in Malta are expected to power state-of-the-art weapons systems and the next generation of artificial intelligence software.

More importantly, it reduces the reliance this country has had to endure on foreign chip manufacturing.

Raimondo attended the announcement, along with Gov. Kathy Hochul, U.S. Sen. Chuck Schumer and Rep. Paul Tonko.

This infusion of federal money is just what the doctor ordered, Saratoga County Chamber President Todd Shimkus said.

“I think the reality is that these things take some time. This funding is going to be provided over the course of 10 years. It will be provided as GlobalFoundries actually makes advancements in developing this new facility, and expanding the facilities that they have here,” said Shimkus. “So I think people are going to have to be patient and know that our economy is going to continue to succeed, grow and thrive as long as they continue to invest here.”