GlobalFoundries, Biden-Harris Administration announce CHIPS, Science Act Funding

The U.S. Department of Commerce has announced $1.5B in planned direct funding for GlobalFoundries (GFS) as part of the U.S. CHIPS and Science Act. This investment will enable GF to expand and create new manufacturing capacity and capabilities to securely produce more essential chips for automotive, IoT, aerospace, defense, and other vital markets: Expansion of GF’s existing Malta, NY, fab by adding technologies already in production in GF’s Singapore and Germany facilities geared towards enabling the U.S. auto industry, an expansion the company views as key to ensuring supply chain resilience for the growing demand and to delivering for GF’s automotive customers including General Motors (GM); Construction of a new state-of-art fab on the Malta campus to meet expected customer demand for U.S.-made essential chips across a broad range of markets and applications including automotive, aerospace, defense and AI. Construction of this new fab combined with expansion of GF’s existing site is expected to triple the existing capacity of the Malta campus over the next 10+ years. These two projects are expected to increase wafer production to 1 million per year once all phases are complete. In support of the two Malta, New York projects, Governor Hochul announced $575M in planned direct funding for New York State Green CHIPS. Also announced was $15M in planned funding for NYS Workforce Development activities for GlobalFoundries as well as $30M in planned funding for NYS Infrastructure upgrades and Energy incentives provided by the New York Power Authority. Combined, these investments are expected to create over 1,500 manufacturing jobs and about 9,000 construction jobs over the life of these projects.