GlobalFoundries expanding Saratoga, Dresden plants
GlobalFoundries confirmed today that it will expand the $4.2 billion computer chip plant it is building in Saratoga County in addition to constructing another factory in Dresden, Germany.
The two expansions are expected to create hundreds of new jobs in New York and Germany. That would be in addition to the 1,400 jobs that the Saratoga County plant already was supposed to generate.
GlobalFoundries, based in Sunnyvale, Calif., plans to begin the cleanroom expansion in Malta, Saratoga County, later this month pending the approval of “an investment agreement” with the Empire State Development Corp and state leaders.
Lawmakers said in March that they were negotiating $300 million in new incentives for the expansion. The state already has approved $1.3 billion in tax breaks and cash incentives to attract the project. Construction began last summer.
“With this aggressive capacity build-out plan we are well positioned to provide new and existing customers with the fastest option to get advanced products to market in the volumes they need,” said GlobalFoundries Chief Operating Officer Chia Song Hwee payday advance lender.
Confirmation of the expansions in New York and Germany come after GlobalFoundries already announced a similar plan for a chip wafer plant it operates in Singapore.
Company officials previously had said the New York expansion would cost roughly $2 billion. They could not immediately be reached this morning to provide an updated estimate on the cost or exact number of new jobs that will be created.
GlobalFoundries is co-owned by Advanced Micro Devices (NYSE: AMD) of Sunnyvale, Calif., and the Abu Dhabi government.
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