MALTA Now that it’s a fixture in Saratoga County, GlobalFoundries is going to settle in a little more with promise of an expansion to its Malta factory.
The 90,000-square-foot expansion of Module 1 at the Fab 8 campus was announced on Tuesday, July 24, the third anniversary of the project’s original groundbreaking. The company said the module will be the final piece of the Fab 8 campus.
“Our investment in Fab 8 is helping to develop Tech Valley as a premier hub of the global semiconductor industry, creating thousands of new technology-based jobs, and contributing billions of dollars to the regional economy. We anticipate the extension will be a significant job creator for both direct and indirect jobs,” said Jessica Kerley, a spokeswoman for GlobalFoundries.
The expansion is expected to bring another 400 to 500 jobs to the Luther Forest Tech Park and will allow for Fab 8’s capacity to grow by approximately 60,000 wafers per month. According to a statement from GlobalFoundries, it will also “increase the (project’s) capital budget by approximately $2.3 billion, taking the total capital budget from $4.6 billion to approximately $6.9 billion, once tools and equipment are installed.”
Chamber of Southern Saratoga County President Peter Bardunias said the expansion will likely continue to attract top talent from around the county to work in the area.
“It will also embolden and encourage entrepreneurs to expand their own businesses and aggressively design, manufacture and market products useful to the new population of our region,” he said. “Our next generation of Saratogians will have top quality education and employment options among major companies such as GE, GlobalFoundries, Momentive and others.”
GlobalFoundries has contributed a total of $5 million to date to the Town of Malta and Town of Stillwater Foundations, in addition to tax payments.
The company said an increased demand for the silicon wafers Fab8 produces is driving the project. The GlobalFoundries site plans have always left the possibility of expansion, but no timetable was ever set.