Upstate NY chipmaker becomes second to sign final deal with Biden administration

Syracuse, N.Y. — The Biden administration announced it has signed a final deal to provide GlobalFoundries $1.5 billion to expand a chipmaking plant in Saratoga County and update a smaller plant in Vermont.
GlobalFoundries will receive $1.375 billion to expand its plant in Malta, where it produces chips for cars, smart phones, artificial intelligence and military hardware. The expansion, which GlobalFoundries said would cost $13 billion, would create 8,000 construction jobs and 1,000 manufacturing jobs.