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GLOBALFOUNDRIES Takes Final Steps Towards Fab 2 Groundbreaking

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GLOBALFOUNDRIES today announced it has issued the formal commitment letter to the State of New York for the construction of the Fab 2 project at the Luther Forest Technology Campus (LFTC). The letter officially initiates the construction phase of the Fab 2 project and triggers the State of New York to begin the process of issuing bonds for the payment of reimbursements and incentives to the company for the development of the estimated $4.2 billion semiconductor wafer fabrication facility, or "fab."


"It was three years ago this month that we announced plans to build and operate the most advanced semiconductor manufacturing facility in the world in upstate New York," said Hector Ruiz, chairman, GLOBALFOUNDRIES. "Over the course of that time we have worked hard to develop this project while reinventing our overall business strategy and ultimately launching GLOBALFOUNDRIES as a new company. Along the way we have had tremendous support from the people of New York and it is with great pleasure that today we announce our official commitment and the start of the construction phase of this exciting project."

In preparation for officially breaking ground in July, GLOBALFOUNDRIES also announced today it has:
  • Completed the Development Agreement with the Town of Malta and the Town of Stillwater. Through the Development Agreement the company will contribute $5 million, including $1 million towards the creation of a 32-acre public recreation field complex. The remaining $4 million will be used to establish two independent foundations designed to provide dedicated funding for future community enrichment programs in each town.
  • Authorized M+W Zander to award the site development bid. The site development work, also referred to as "clearing and grubbing," will begin on Monday, June 15 and will prepare the site for full-scale construction, including the official groundbreaking ceremony planned for July.
  • Scheduled the closing of the transaction to purchase 223 acres of land from LFTC for Wednesday, June 10.

"New York is in position to lead the nation in the New Economy. This project represents exactly the type of innovation and cutting-edge technology that will give our state a critical advantage moving forward. It is also the largest public-private sector industrial investment in New York State history, with thousands of new jobs and billions of dollars in capital expenditures, which will have an incredible impact," said Governor David Paterson. "I want to thank Hector Ruiz and his team at GLOBALFOUNDRIES for their commitment to this important project and their commitment to New Yorkers."

The construction project is expected to take approximately two years to complete and an additional 12 to 18 months to ramp to full operating mode, with volume production anticipated in roughly 2012. The Fab 2 project is expected to create approximately 1,400 new direct semiconductor manufacturing jobs at full scale production with an estimated annual payroll of more than $88 million. In addition, the project is expected to create approximately 5,000 new indirect jobs in the region with a sustained estimated total annual payroll of $290 million per year for all jobs.

The total capital budget for this project is estimated at approximately $4.2 billion, including local construction expenditures of approximately $800 million. Construction is expected to create approximately 1,600 new construction jobs, plus an additional 2,700 local construction-related jobs.

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at least some one builds factories in US
 

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Great to see some new job opportunities :toast: hope chips are cheaper in the US because of it too.


OT
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F YEA. Saints Row was real all along :roll:
 
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Go AMD Go :rockout:

Build more like this and create loads of job oppurtunities in US (unlike the I b********).
 

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Good news for New York and the rest of the United States:)
It would be nice if more companies were to build factories in the US.
 

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They've been pondering building a fab in New York state since...2005?
 

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Build more like this and create loads of job oppurtunities in US (unlike the I b********).
i love how they claim things like this and people believe them, right- couple thousand highly skilled engineers are just going to come out of New yorks wood work to fill these "
new jobs", id be willing to bet that just about every position above janitor has already been filled and they havent even begun building yet.

dont get me wrong i think this is great, but about the only thing this place is going to provide New york is tax dollars...and btw this isnt amd its GF
 

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i love how they claim things like this and people believe them, right- couple thousand highly skilled engineers are just going to come out of New yorks wood work to fill these "
new jobs", id be willing to bet that just about every position above janitor has already been filled and they havent even begun building yet.

dont get me wrong i think this is great, but about the only thing this place is going to provide New york is tax dollars...and btw this isnt amd its GF
But still it will help the situation in the US. I'm guessing they decided to go ahead as people in America are more likely to support it.

Jobs already taken ?.. I see no issue there but question is are they American people who are being employed ( not supposed to sound racist).
 

DaC

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well.... $4.2 bi to the US, only for the construction..... I guess you should be happy of it not going to China.... US tax... US constructors... us janitor.... Indian engineer... LoL... proprably US too.... I'm just kidding... It sure is good news for the American people. :toast: :toast: :toast:
 

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I was not speeking of Black Americans or American Indians.. I was on about hiring people from other country's to live in the US till they leave the job..
 
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Chip manufacturing in the US? Further proof that we are becoming a third world country ;)
 

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It's not that unusual. Intel has plenty of fabs here in the USA, there is one in my city, except they seem to have lots of fabs around the world. Indeed it is good that we are opening another one in the USA though, good for the economy. Now if only we could get a board partner to create ATI video cards here in the United States, I know most of them are fabbed at TSMC, but aren't some of them supposed to be fabbed by that fab company AMD formed out of it's old fab assets? Get a board maker to use the USA chips and build cards here in the USA, I would buy them, just support the US.
 
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h3llb3nd4

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Chip manufacturing in the US? Further proof that we are becoming a third world country ;)
You dont need to be a 3rd world country to make chips, take Taiwan for example, they're not a 3rd world country! and yet they manufacture All sorts of computer parts!
 
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You dont need to be a 3rd world country to make chips, take Taiwan for example, they're not a 3rd world country! and yet they manufacture All sorts of computer parts!
I think you missed the wink. It was a joke.
 

shagg

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We HOPE and PRAY that the unions don't set foot in the factory. Otherwise the AMD factory will be doomed from the start. This coming from an airline union member.

peace.
 

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