$1.5 billion Chips and Science Act money for Globalfoundries

The  funding will support three GF projects:

• Expansion of the company’s   Malta, NY, fab by adding critical technologies already in production in GF’s Singapore and Germany facilities geared towards enabling the U.S. auto industry to ensure supply chain resilience for automotive customers.
• Construction of a  fab on the Malta campus to make mature technology ICs which represent more than 60% of the semiconductor market. Construction of this new fab combined with expansion of the existing site is expected to triple the existing capacity of the Malta campus over the next 10+ years. These two projects are expected to increase wafer production to 1 million per year once all phases are complete.
• Modernisation  of  the company’s longest continuously operated fab and the nation’s first and largest Trusted 200mm facility in Essex Junction, Vermont. The project will upgrade existing facilities, expand capacity as well as create the first U.S. facility capable of high-volume manufacturing of GaN ICs for use in electric vehicles, power grids, data centers, 5G and 6G smartphones and other critical technologies.

Based on market requirements and demand, GF plans to invest more than $12 billion over the next 10 plus years across its two U.S. sites through public-private partnerships with support from the federal and state governments as well as from its ecosystem partners, including key strategic customers.

In support of the two Malta, New York projects, New York Governor Hochul today announced $575 million in planned direct funding for New York State Green CHIPS. Also announced was $15 million in planned funding for NYS Workforce Development activities for GlobalFoundries as well as $30 million in planned funding for NYS Infrastructure upgrades and Energy incentives provided by the New York Power Authority (NYPA).

Combined, these investments are expected to create over 1,500 manufacturing jobs and about 9,000 construction jobs over the life of these projects.

“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,” says CEO Tom Caulfield, “they will also play an important role in making the U.S. semiconductor ecosystem more globally competitive and resilient and cements the New York Capital Region as a global semiconductor hub.”