AMD commits to chip fab in Malta

Town of Malta Supervisor Paul Sausville acknowledged the investment made at various levels, including the $67 million Saratoga County waterline project, which will sell 3 million gallons of water a day to the plant, but said that the hard work is now paying off.

"It's a culmination of effort from a lot of different people working at the state, county and local level," Sausville said of the announcement, adding that the plant represents a step toward prosperity in the area. "It's going to provide great jobs for young people so they don't have to move away."

Elected officials, their challengers in upcoming elections, the Saratoga Chamber of Commerce and even realtors throughout the area and state released declarations of support for AMD's decision on Tuesday.

"At a time of general bleak economic news, this is great news about the Capital Region and its economic future," said Democratic Sen. Charles Schumer.

"Not only will the Fab 4X project inject billions of dollars and thousands of jobs into our economy, it will generate new research and development opportunities for our universities, attract other companies to locate in our communities, and help our existing small- and medium-sized businesses grow and prosper," said Kirsten Gillibrand, D-Hudson.

AMD's stock reacted positively to the news by spiking sharply as Tuesday's trading opened. On a day the Dow plummeted over 500 points the stock settled down and finished at $4.59, a 36 cent gain. That's one-third of what it was worth at this time last year. Intel's stock dropped 5.4 percent.""

Vote on this Story by clicking on the Icon


Use the comment form below to begin a discussion about this content.

Sign in to comment