June 19, 2017 Statement in Support of the Malta GLOBALFOUNDRIES Capital – SUNY Polytechnic Strategic Projects Program (Capital Grant)
On behalf of the Saratoga County Prosperity Partnership, it is my pleasure to speak in strong support of the proposal put forward by GLOBALFOUNDRIES and Empire State Development to upgrade and install state-of-the-art EUV equipment at GLOBALFOUNDRIES’ Fab 8 facility here in Malta.
Moving forward with this investment will be positive for the community and the County of Saratoga, as well as the Capital Region and New York State. The Saratoga Partnership’s mission is to assist the private sector in securing sustainable jobs and capital investment. Our support for this investment by Empire State Development and the State of New York is founded on this mission.
This investment, we believe, will provide the following economic benefits:
- This investment will enable the upgrade of a state-of-the-art tool used to develop and manufacture advanced semiconductor process technologies, specifically at 7nm. This keeps GLOBALFOUNDRIES – as well as New York State – at the cutting edge of technology, and gives the company a distinct competitive advantage in an industry driven by innovation.
- This investment will support more than 400 high-paying, full-time technology jobs at GLOBALFOUNDRIES. This includes12 new positions at Fab 8, as well as 400 existing positions related to advanced lithography. This will provide additional prosperity to Saratoga County and the entire Capital Region.
- The advanced technology enabled by this new investment will provide an additional incentive for supply chain and support companies to locate near GLOBALFOUNDRIES, including at the Next Wave Center now being developed by the Saratoga Partnership, which will bring additional jobs and capital investment into Saratoga County and the Capital Region.
- This public investment of $7.5 million by New York State will leverage more than 10 times as much in private investment, with GLOBALFOUNDRIES committing $81.6 million to ensure the success of this important initiative.
- And finally, this project will continue to sustain and build the partnership GLOBALFOUNDRIES has with SUNY Poly to support innovation. These types of partnerships are a critical part of the formula that will grow jobs and capital investment in this region.
We are fully supportive of this application and it is our hope the State follows through with this investment. We are excited about the opportunity to support high-tech job growth throughout Saratoga County and the Capital Region, and to keep New York State a leader in semiconductor technology development and advanced manufacturing. Thank you.
Marty Vanags, CEcD, President
Saratoga County Prosperity Partnership