AMD's Empire Zone benefits are expected to be worth more than $250 million in a 10-year span. Under an agreement signed in December 2006, AMD also qualifies for a $650 million cash payment from the state if it finalizes its plans by July 2009.The state has also committed $300 million in infrastructure investment needed by the plant.
Under the Empire Zone program, AMD would receive state income tax credits for its investments, and also for property tax payments to local communities and schools.
AMD representatives are visiting the county Wednesday through Friday, Dec. 12 to 14. Mike Relyea, executive director of the Luther Forest Technology Campus, said that AMD would go before the planning boards of Malta and Stillwater as well as the two town boards. They have yet to release a concrete timeline for the plant.
Despite the lack of details on the AMD project, the Saratoga Economic Development Corp. signed an agreement with the Saratoga County Water Authority on behalf of all Luther Forest tenants, including the proposed AMD chip fabrication plant, to purchase water from the $67 million county water system that is under construction.
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