Thursday, 22 February 2024 13:27

10,000+ New Jobs: Federal Government Invests $1.5 Billion in Malta-Based GlobalFoundries

Photo of the GlobalFoundries campus and company headquarters in Malta provided by GlobalFoundries. Photo of the GlobalFoundries campus and company headquarters in Malta provided by GlobalFoundries.

MALTA — The U.S. Department of Commerce announced on Monday that it would send $1.5 billion in funds to GlobalFoundries, a semiconductor manufacturer headquartered in Malta. The investment is part of the CHIPS and Science Act, which was signed into law by President Joe Biden in August of 2022. GlobalFoundries will use the funds to expand its existing facility in Malta, build a new microchip fabrication plant in Malta, and modernize its facility in Vermont. 

In support of the two Malta projects, Governor Kathy Hochul also announced $575 million in direct funding for New York State Green CHIPS. Additional $15 million and $30 million investments are planned for workforce development activities, as well as infrastructure upgrades and energy initiatives, respectively. 

All told, GlobalFoundries estimates that these investments will create more than 1,500 manufacturing jobs, and about 9,000 construction jobs.

“These proposed investments, along with the investment tax credit (ITC) for semiconductor manufacturing, are central to the next chapter of the GlobalFoundries story and our industry,”  said Dr. Thomas Caulfield, president and CEO of GlobalFoundries, in a statement. “They will also play an important role in making the U.S. semiconductor ecosystem more globally competitive and resilient, and cement the New York Capital Region as a global semiconductor hub.”

“The awards have a targeted focus on workforce development, which ensures that the people who live in our region will be trained and connected to good-paying careers in manufacturing,” said Mark Eagan, CEO and president of the Center for Economic Growth and the Capital Region Chamber. “This announcement marks an exciting chapter in our region’s future; one that builds on an already strong foundation to propel us further into global leadership.”

GlobalFoundries is the third-biggest semiconductor foundry in the world. In 2021, it moved its global headquarters from Santa Clara, California to Malta, New York. Its campus is located at 400 Stone Break Rd Extension.

Read 1273 times


  • Saratoga County Court Brad C. Cittadino, 49, of Stillwater, was sentenced April 11 to 3 years incarceration and 2 years post-release supervision, after pleading to criminal sale of a controlled substance in the third-degree, a felony.  Matthew T. McGraw, 43, of Clifton Park, was sentenced April 11 to 5 years of probation, after pleading to unlawful surveillance in the second-degree, a felony, in connection with events that occurred in the towns of Moreau, Clifton Park, and Halfmoon in 2023.  Matthew W. Breen, 56, of Saratoga Springs, pleaded April 10 to sexual abuse in the first-degree, a felony, charged May 2023 in…

Property Transactions

  • BALLSTON Eastline Holdings LLC sold property at 16 Linden Ct to Bradleigh Wilson for $472,158 Eastline Holdings LLC sold property at 6 Appleton St to Kristina Guernsey for $553,391 Vincent Monaco sold property at Dominic Dr to BBL Ridgeback Self Storage LLC for $300,000 GALWAY Richard Herrmann sold property at Lot 4 & 5 Bliss Rd to James Snyder for $112,500,000 Stephen Signore sold property at 2558 NYS Rt 29 to Deutsche Bank National Trust for $213,331 GREENFIELD ANW Holdings Inc sold property at 36 Middle Grove Rd to Patrick Tirado for $168,000 Ernest Johnson sold property at 21 Lady…
  • NYPA
  • Saratoga County Chamber
  • BBB Accredited Business
  • Discover Saratoga
  • Saratoga Springs Downtown Business Association