GlobalFoundries, the world's third-largest semiconductor foundry, has officially received $1.5 billion in funding from the US Chips and Science Act. This substantial award will bolster the company's domestic chip manufacturing capabilities and contribute to a more resilient US supply chain.
The funding, part of a larger $13 billion investment plan by GlobalFoundries over the next decade, will support three key projects:
Expansion and Modernization of Existing Facilities
- Malta, New York: Expansion of the existing chip fab with critical technologies to support the US automotive industry.
- Essex Junction, Vermont: Modernization and expansion of the current plant, including a new facility for high-volume gallium nitride (GaN) semiconductor production, essential for electric vehicles, data centers, and other applications.
Construction of a New Fab
- Malta, New York: A brand-new manufacturing plant to address domestic demand for chips in the aerospace, defense, computing, and automotive sectors.
Economic Impact and Workforce Development
This investment is projected to create approximately 1,000 direct manufacturing jobs and over 9,000 construction jobs. GlobalFoundries will collaborate with New York and Vermont authorities to develop a skilled workforce for the semiconductor industry.
This significant investment by GlobalFoundries, combined with the Chips Act funding, marks a crucial step towards strengthening US semiconductor manufacturing and ensuring a more secure and reliable supply chain.
