The new company that will be building a $4.5 billion microchip factory in Malta hasn't even been officially formed yet, but it has thrown money behind a world-renowned bicycle race in Washington County.
The Foundry Company the upcoming manufacturing spinoff created by AMD and Abu Dhabi-based investors plans to sponsor the Tour of the Battenkill at $50,000. AMD spokesman Travis Bullard, who will be making the transition to Foundry, said the race is a good way to introduce the new entity to the community.
"We saw it as a good opportunity to get going right away," said Bullard. "The sponsorship will actually be one of the first community-oriented activities that the new Foundry company will be involved in. It's one of the first opportunities to introduce the new brand and logo to the community."
Expect a new identity for Foundry in the next few weeks. That forthcoming name and logo will be the one appearing at the tour.
U.S. Sen. Charles Schumer made an announcement that appeals from his office helped broker the sponsorship.
"AMD and the Tour of the Battenkill are a match made in heaven," Schumer said in a statement. "AMD sponsorship of this is a win-win for the region"help extend the tour, bring top professional cyclists to the roads of Washington County and provide a shot in the arm for the local economy."
The fifth-annual Tour of the Battenkill will take place on April 18 and 19, starting in Cambridge but consisting of a course covering a good chunk of Washington County. It's the largest pro-am cycling race in the country, on par with European circuits, earning it the title of "America's Queen of the Classics." The pros ride the 100-kilometer circuit twice over.
More than 1,200 riders have signed up for the race so far, just a few weeks after registration opened. Only about 1,500 will ultimately ride.