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Tech Valley News
GlobalFoundries to Run New Chip Fab Plant
Tech Valley’s new chip fabrication plant, planned for the Luther Forest Technology Campus, will be run by GlobalFoundries Inc., the new name of Advanced Micro Devices Inc.’s manufacturing spin-off that is also partly owned by Advanced Technology Investment Co., an investment company formed by the Abu Dhabi government.
Hector Ruiz, GlobalFoundries’ chairman, unveiled the new branding to the media on Wednesday saying the name is appropriate as "this is the only foundry company that is global."
GlobalFoundries plans to break ground on the $4.2 billion facility later this month. Doug Grose, former senior vice president of manufacturing operations at AMD, will run GlobalFoundries which will have an office at the Saratoga Technology & Energy Park, located adjacent to the chip plant site.
The new fab is "by far the most significant high-tech investment made in this country in decades," said Ruiz who previously was CEO of AMD.
The chip fab is expected to be operation in 2012, when it will employ 1,465 workers and create as many as 5,000 indirect jobs. GlobalFoundries also received $1.2 billion in cash and tax incentives from New York state.
"GlobalFoundries will place Tech Valley as a frontrunner for leadership in advanced manufacturing and nanotechnology innovations," said Michael Relyea, president of Luther Forest Technology Campus. "Starting with Fab 2, we will continue to populate the remaining 1,600,000 square feet with midsize manufacturing facilities and corporate office space for ancillary businesses."
"It's a great day for TechValley," said F. Michael Tucker, president of the Center for Economic Growth, which promotes regional business development. "To have this announcement in this economy is wonderful."
While AMD will be GlobalFoundries’ first customer, its’ goal is to acquire several clients, possibly including rival Intel, over the next few years.
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