{"id":35099,"date":"2020-07-16T15:38:24","date_gmt":"2020-07-16T19:38:24","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=35099"},"modified":"2020-07-16T21:20:16","modified_gmt":"2020-07-17T01:20:16","slug":"globalfoundries-puts-plan-in-works-to-buy-more-land-in-malta-for-future-expansion","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/07\/globalfoundries-puts-plan-in-works-to-buy-more-land-in-malta-for-future-expansion\/","title":{"rendered":"GlobalFoundries Puts Plan In Works To Buy More Land In Malta For Future Expansion"},"content":{"rendered":"<figure id=\"attachment_35101\" aria-describedby=\"caption-attachment-35101\" style=\"width: 903px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-35101\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/globalfoundries-hc.jpg\" alt=\"\" width=\"903\" height=\"666\" srcset=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/globalfoundries-hc.jpg 903w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/globalfoundries-hc-300x221.jpg 300w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/globalfoundries-hc-768x566.jpg 768w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/><figcaption id=\"caption-attachment-35101\" class=\"wp-caption-text\">GlobalFoundries has secured a purchase option agreement for approximately 66 acres.<br \/>Courtesy GlobalFoundries<\/figcaption><\/figure>\n<p>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).<br \/>\nThe 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.<br \/>\nExercising the option to purchase the land and commencement of development to expand the company\u2019s Fab 8 facility will be subject to zoning regulations and client demand, company officials said.<br \/>\n\u201cGlobalFoundries continues to demonstrate its commitment to economic growth in Saratoga County and Upstate New York,\u201d said Darren O\u2019Connor, Malta town supervisor. \u201cI am pleased to hear that this latest step will enable future growth opportunities for GlobalFoundries for years to come.\u201d<!--more--><br \/>\nThe parcel is being sold at fair market value, with a purchase price determined by an independent appraiser, the company said.<br \/>\n\u201cAmid growing consensus in our nation\u2019s capital for investment in semiconductor manufacturing, it\u2019s more important than ever that we are ready to fast track our growth plans at GlobalFoundries\u2019 most advanced manufacturing facility in the U.S.,\u201d said Ron Sampson, GlobalFoundries senior vice president and general manager of U.S. fab operations. \u201cWith 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.\u201d<br \/>\nGlobalFoundries 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).<br \/>\nGlobalFoundries 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.<br \/>\nWith 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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":196,"featured_media":35101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-35099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>GlobalFoundries Puts Plan In Works To Buy More Land In Malta For Future Expansion - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/07\/globalfoundries-puts-plan-in-works-to-buy-more-land-in-malta-for-future-expansion\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"GlobalFoundries Puts Plan In Works To Buy More Land In Malta For Future Expansion - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"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). 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