The $6 Billion Project in Saratoga County Gets the Go-Ahead
It will be one of the biggest projects in Saratoga County and possibly all of Upstate New York when it's completed. The six to eight-billion-dollar computer chip factory got the green light from local planning boards.
What Is Being Proposed?
GlobalFoundries, which has its home base in Malta is looking to expand to the tune of six billion dollars. They want to build another computer chip factory to help with shortages and in turn the production of cars, smartphones, refrigerators, and more. It will be a six hundred thirty-three thousand-square-foot addition. GlobalFoundries would purchase eight hundred acres in the Luther Forest Technology Campus. There is already a fifteen billion dollar existing manufacturing campus. Another chip factory will be built to wrap around the already existing factory according to the Albany Business Review.
What Happens Next?
With approval from the Stillwater and Malta Planning Boards, it now goes to the lawmakers in Washington D.C. They await the vote on legislation to approve the fifty-two billion dollars in federal funding for chip research and production in the country.
The Vice President of Business Operations in Malta, Deb Leach said,
Our goal is to make sure we are 100% shovel-ready when our clients, the state, and the federal government are ready to go.
Right now GlobalFoundries employs twenty-six hundred at the Malta site. The new factory will create another one thousand jobs.
After approval, it's not clear the timeline of the construction to start.