MALTA, N.Y. - Governor Andrew Cuomo announced Tuesday GlobalFoundries will build a new multi-billion dollar research and development facility at its Fab 8 Campus in Saratoga County adding 1,000 jobs to the area.
GlobalFoundries, a global leader in advanced semiconductor research, says the $2 billion facility is expected to play a key role in the company's strategy to develop innovative semiconductor solutions allowing customers to compete at the leading edge of technology.
The Technology Development Center (TDC) is expected to result in at least 500 new, high-paying jobs, as well as 500 additional jobs at Fab 8 and administration buildings.
"The investments we have made in nanotechnology research across New York State are producing the intended return - the creation of high-paying jobs and generation of economic growth that is essential to rebuilding our state," Governor Cuomo said.
TDC will include 90,000-square feet of flexible cleanroom space that will house a variety of semiconductor development and manufacturing areas to support the transition to new technology nodes.
Construction of the TDC is planned to begin in early 2013 with completion targeted for late 2014.
CEO Ajit Manocha said, "As the industry shifts from the PC era to a market focused on mobile devices, we have seen increasingly strong interest from customers in migrating to advanced nodes on an accelerated schedule. To help facilitate this migration, we are making significant investments in strengthening our technology leadership, including growing our workforce and adding new capabilities to make Fab 8 the hub of our global technology operations."
The new facility will increase the total capital investment for the Fab 8 campus to more than $8 billion.
Since breaking ground on Fab 8 in 2009, GlobalFoundries has created approximately 2,000 new direct jobs and that number is expected to grow by another 1,000 employees for a total of about 3,000 new jobs by the end of 2014.