GlobalFoundries invests $575M for New York center

Governor Kathy Hochul announced that GlobalFoundries will invest $575 million to establish the New York Advanced Packaging and Photonics Center in Saratoga County, which will create 102 new jobs over the next five years. This facility will enhance the company's advanced packaging capabilities, crucial for semiconductor design and manufacturing, particularly in sectors like AI, automotive, and defense. New York State will support the initiative with up to $20 million, complemented by $75 million from the U.S. Department of Commerce, as part of efforts to ensure secure domestic chip production. GlobalFoundries has already invested over $15 billion in its existing Malta facility, which is a leader in advanced manufacturing. The new center will focus on producing silicon photonics and 3D/HI chips, addressing the growing demand for innovative semiconductor solutions. Senate Minority Leader Charles Schumer emphasized the importance of the center for national security and economic competitiveness.