Courtesy GlobalFoundries
GlobalFoundries announced it has secured a purchase option agreement for approximately 66 acres of undeveloped land adjacent to what it calls its most advanced manufacturing facility, Fab 8 in Malta near the Luther Forest Technology Campus (LFTC).
The land parcel is located at the southeast end of the New York State Energy Research and Development Authority (NYSERDA) Saratoga Technology + Energy Park (STEP) campus, adjacent to Stonebreak Road Extension, between the Fab 8 facility and Hermes Road.
Exercising the option to purchase the land and commencement of development to expand the company’s Fab 8 facility will be subject to zoning regulations and client demand, company officials said.
“GlobalFoundries continues to demonstrate its commitment to economic growth in Saratoga County and Upstate New York,” said Darren O’Connor, Malta town supervisor. “I am pleased to hear that this latest step will enable future growth opportunities for GlobalFoundries for years to come.”
The parcel is being sold at fair market value, with a purchase price determined by an independent appraiser, the company said.
“Amid growing consensus in our nation’s capital for investment in semiconductor manufacturing, it’s more important than ever that we are ready to fast track our growth plans at GlobalFoundries’ most advanced manufacturing facility in the U.S.,” said Ron Sampson, GlobalFoundries senior vice president and general manager of U.S. fab operations. “With this agreement option, we now have additional flexibility to expand our footprint and position Fab 8 for future growth in Saratoga County and New York state, while strengthening U.S. leadership in semiconductor manufacturing.”
GlobalFoundries employs nearly 3,000 people and has invested over $13 billion in Fab 8. The company recently announced it is bringing the facility into compliance with both the U.S. International Traffic in Arms Regulations (ITAR) standards and the highly restrictive Export Control Classification Numbers (ECCNs) under the Export Administration Regulations (EAR).
GlobalFoundries delivers differentiated feature-rich solutions that enable its clients to develop innovative products for high-growth market segments. It provides a broad range of platforms and features with a unique mix of design, development and fabrication services.
With a manufacturing footprint spanning the U.S., Europe and Asia, GlobalFoundries has the flexibility and agility to meet the dynamic needs of clients across the globe, according to company officials. It is owned by Mubadala Investment Co. For more information, visit globalfoundries.com.