New York's semiconductor landscape just got a hefty boost as Governor Kathy Hochul revealed that GlobalFoundries is doling out $575 million to roll out a new advanced packaging and photonics center in Malta. According to an announcement on her official page, this move is geared toward expanding the company's packaging capabilities, a move central to the chip design and production process. With an additional $186 million earmarked for R&D in the next decade, they're eyeing to create over 100 new full-time positions in the coming five years.
"GlobalFoundries is a proven economic generator that shows just exactly how this industry can transform a region," Governor Hochul said. The governor went on to express gratitude to the Biden administration and Senator Schumer for their support in ensuring that we remain competitive in the 21st-century economy, as detailed on her official page. The state's commitment to semiconductor advancement is clear, as GlobalFoundries President Dr. Thomas Caulfield cites customer demand for geographic diversity in supply chains as a catalyst for the new development.
Currently, GlobalFoundries' Malta facility is a titan of advanced manufacturing with a $15 billion investment under its belt and an impressive 2,500-strong workforce. The state of New York is chipping in up to $20 million for this new project, which falls under the wings of the Green CHIPS program, providing $550 million in the past. On the Federal level, the Commerce Department is throwing a $75 million lifeline, supplementing the CHIPS Act award already in place.
Senate Minority Leader Charles Schumer highlighted the significance of this strategic move. "GlobalFoundries now plans to build a first-of-its-kind advanced chip packaging and testing center right here in the Capital Region," Schumer said on Governor Kathy Hochul's website, emphasizing the bipartisan CHIPS & Science Law as a driving force behind the investment. He added that this development will secure the manufacturing, packaging, and testing of semiconductors within the United States, which is crucial for industries such as automotive and defense.
The creation of the New York Advanced Packaging and Photonics Center is a clear nod to the state's comprehensive strategy to lead America's semiconductor revival, according to Empire State Development's Hope Knight. With New York already supporting a robust semiconductor scene, Governor Hochul's initiatives seem to be firing on all cylinders, attracting significant industry investments and confirming the region as a dominant force in the chip manufacturing sphere on a national scale.
New York, on its part, is etching its name as a semiconductor powerhouse, with more than 156 related companies and over 34,000 locals employed. The industry's expansion only promises to intensify, with chip companies signaling over $112 billion in prospective investments in the state. Semiconductors are not just a critical part of the national economic fabric; they are essential for technological advancement and competitiveness on a global scale.
