{"id":1004702907,"date":"2024-02-20T05:20:00","date_gmt":"2024-02-20T13:20:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004702907"},"modified":"2024-02-22T03:49:03","modified_gmt":"2024-02-22T11:49:03","slug":"globalfoundries-to-invest-12b-in-chip-plant-expansion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/globalfoundries-to-invest-12b-in-chip-plant-expansion\/","title":{"rendered":"$12B Chip Plant Expansion Planned in NY"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d2143e5e4e&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004702957\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/globalfoundries-to-invest-12b-in-chip-plant-expansion\/malta-n-y-facility\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Malta-N.Y.-facility.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Malta-N.Y.-facility\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Malta-N.Y.-facility.jpg?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Malta-N.Y.-facility.jpg\" alt=\"\" class=\"wp-image-1004702957\" style=\"width:379px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Malta-N.Y.-facility.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Malta-N.Y.-facility.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Malta-N.Y.-facility.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Aerial view of GlobalFoundries\u2019 existing Malta, N.Y., facility. <em>Image courtesy of GlobalFoundries<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>GlobalFoundries<\/strong> is planning to invest more than $11.6 billion over the next decade to expand its existing Fab 8 semiconductor manufacturing site in Saratoga County. The initiative will address the growing demand for chips, while creating more than 1,500 direct jobs and thousands of indirect jobs.<\/p>\n\n\n\n<p>The project will also leverage a significant federal investment through the U.S. CHIPS and Science Act. The U.S. Department of Commerce will provide $1.5 billion in planned direct funding to GlobalFoundries, enabling the company to securely produce more essential chips for automotive, IoT, aerospace, defense and other vital markets.<\/p>\n\n\n\n<p>The $1.5 billion potential investment will support the expansion of GlobalFoundries\u2019 Malta, N.Y., facility, including the construction of a new 358,000-square-foot fab, as well as the modernization of its facility in Essex Junction, Vt.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-sector-set-for-2024-transformation\/\">Industrial Sector Set for 2024 Transformation<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>An additional $575 million in New York State Green CHIPS funding, plus a further $45 million in other state benefits, such as workforce development and infrastructure upgrades, are planned over the 10-year term of GF\u2019s New York projects. New York Gov. Kathy Hochul signed the Green CHIPS program into law in August 2022.<\/p>\n\n\n\n<p>That was the same week that President Joe Biden signed into law the $280 billion federal CHIPS and Science Act, which authorized roughly $39 billion in subsidies specifically for chip manufacturing on U.S. soil.<\/p>\n\n\n\n<p>The proposed federal funding will support three GF projects:<\/p>\n\n\n\n<p>\u2022\u00a0 Expansion of GF\u2019s existing Malta, N.Y., fab by adding critical technologies already in production in GF\u2019s Singaporean and German facilities. This expansion aims to ensure supply chain resilience for the growing demand for semiconductor chips and their delivery to GF\u2019s automotive customers including <strong>General Motors<\/strong>.<\/p>\n\n\n\n<p>\u2022\u00a0 Construction of a new state-of-art fab on the Malta campus to meet expected customer demand for U.S.-made chips across a broad range of markets and applications including automotive, aerospace, defense and AI. The new fab, which has already been granted some necessary permitting, will leverage the site\u2019s existing infrastructure. Construction is expected to begin in 2025. The new fab, combined with the expansion of GF\u2019s existing facility at the site, is expected to triple the capacity of the Malta campus over the next 10-plus years.<\/p>\n\n\n\n<p>\u2022&nbsp; Modernization of GF\u2019s longest continuously operated fab, and the nation\u2019s first and largest Trusted 200mm facility, in Essex Junction, Vt. The upgrade and expansion reportedly will create the first U.S. facility capable of high-volume manufacturing of next-generation gallium nitride (GaN) semiconductors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-microchips-macro-money\">Microchips, macro money<\/h2>\n\n\n\n<p>In a prepared statement, U.S. Sen. Chuck Schumer (D-N.Y.), a strong advocate for the U.S. CHIPS and Science Act, noted that this is the largest award to date from the CHIPS program.<\/p>\n\n\n\n<p>Earlier this week, <em>Commercial Property Executive<\/em> reported on a new <a href=\"https:\/\/www.commercialsearch.com\/news\/how-reshoring-impacts-industrial-real-estate\/\">white paper from Newmark and NAIOP<\/a>, which highlights the roles of both federal funding and growth of the high-tech sector, including semiconductors, as drivers of U.S. manufacturing\u2019s resurgence.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This 10-year investment is part of the state\u2019s push to become a global semiconductor hub.<\/p>\n","protected":false},"author":882,"featured_media":1004702957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,21742,10],"tags":[33192,52327],"class_list":["post-1004702907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-latest","category-northeast","tag-general-motors","tag-globalfoundries"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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