After months of discussion, Advanced Micro Devices (AMD) has signed a general project plan agreement with the State Economic Development Corporation outlining the broad parameters to develop its proposed site in the Luther Forest Technology Campus.
Announced late last week by Senate Majority Leader Joseph Bruno, R-Brunswick, the plan will be partially funded with a $650 million state grant, just a portion of the $1.2 billion in funds promised to AMD. That money is expected to be used to offset the costs of real estate, construction, machinery, equipment, and research and development related to AMD's semiconductor wafer manufacturing plant.
"The general project plan is a significant step in developing this site and the most significant development since the original announcement," said Bruno. "By reaching this agreement and clearing the way for a service road in the Tech Park, the Capital Region is moving ahead toward a bright, prosperous future as a global leader in high technology research and economic development."
Flanked by Republican Congressman John Sweeney, Malta Supervisor Paul Sausville, Stillwater Supervisor Greg Connors, and other state and local officials, Bruno commended the group for their efforts in bringing this project to fruition.
The announcement served to kick off the clearing and grubbing of the roadways inside the park.
A press release from Bruno's office stated that AMD will be purchasing up to 200 acres of property at the tech campus to construct the 1.2 million-square-foot facility, with that construction slated to begin as early as July of 2007.
The Empire State Development Corp. will hold a public hearing related to the $650 million grant it plans to offer AMD. It is scheduled to be held 1 p.m.-2 p.m. Nov. 6 at the Luther Forest Technology Campus Center's main conference room on Hermes Road in Malta. ""