(WNY News Now) Senator Kirsten Gillibrand announced the allocation of $1.5 billion in funding to GlobalFoundries, bolstering Upstate New York’s status as a worldwide manufacturing base and providing a major boost to the U.S. semiconductor industry.
Washington, D.C.The allocation of $1.5 billion in CHIPS and Science Act funding for GlobalFoundries, a prominent semiconductor manufacturer, was celebrated yesterday by U.S. Senator Kirsten Gillibrand. GlobalFoundries will be able to build a new, cutting-edge plant in Malta, New York, and expand its current chip manufacturing facility thanks to the funds.
According to Senator Gillibrand, the Capital Region has made a name for itself as a leader in the world of chip production, and this $1.5 billion in financing from the CHIPS Act will solidify the region’s position in this expanding sector. With this money, GlobalFoundries will be able to develop a new, state-of-the-art factory at its complex in Malta and expand its current facility, which will strengthen the economy of Upstate New York and create well-paying employment. I am honored to have contributed to the passage of this landmark legislation, which is establishing the groundwork for a prosperous future and generating jobs in sophisticated manufacturing right here in New York.
Chip manufacturers have made several large investments, and Upstate New York has benefited greatly from federal financing for semiconductor production as a result of the CHIPS & Science Act. In order to construct a state-of-the-art factory in Central New York, Micron revealed intentions to invest an unprecedented $100 billion, creating almost 50,000 well-paying jobs. The Albany NanoTech Complex became the first National Semiconductor Technology Center earlier this year after receiving $825 million in federal financing.