GlobalFoundries project surges ahead

Only approval of the final site plan remains, and with recent developments that goal has come within striking distance.

"For final site plan approval, it's just a matter of the grunt work and working through the remaining technical issues," said town Building and Planning Coordinator Anthony Tozzi. "That's largely dependent on how quickly the GlobalFoundries team is in providing the town engineer with what he needs."

The towns of Malta and Stillwater stand to receive compensation through GlobalFoundries under a development agreement. Malta, where most of the plant's 1.3 million-square-foot footprint will sit, will receive $4 million over time, with $1 million earmarked for the construction of ballfields at LFTC. Stillwater is to receive $1 million.

The state incentives will take the form of $650 million in cash and $550 million in tax breaks, to be distributed over the next 10 years through the state's Empire Zone program. Run through the Empire State Development Corporation, the program is designed to attract businesses to the state that might otherwise choose to build elsewhere.

GlobalFoundries operates manufacturing facilities in Dresden, Germany, that once belonged to AMD.

Construction of Fab 2 is expected to take about two years, and it will take another year or more for the plant to ramp up to full operation. Once it does so, it is expected to employ 1,500. Construction will create about 1,600 jobs, in addition to 2,700 construction-related jobs.

M+W Zander has already begun hiring members of its Fab 2 construction team through a local job fair on Wednesday, June 10. ""

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