More federal money is coming to support a major semiconductor company's investment in New York's Capital Region.
Senate Minority Leader Chuck Schumer says GlobalFoundries will get another $75 million on top of the $1.5 billion he secured through the CHIPS and Science Act as the company gets ready to build a new packaging and photonics center in Saratoga County.
Schumer's office says the company is planning to invest $575 million in the New York Advanced Packaging and Photonics Center with an additional $186 million investment in research and development over the next decade, which the office expects to create about 100 new jobs.
The office says the new site will create and test semiconductors for use in sectors like defense and artificial intelligence.
“We’re proud to partner at the state and federal level on this new center, which is a direct response to our customers asking for more geodiversity in their supply chains and additional support with advanced packaging solutions for GF silicon photonics, Trusted, and 3D/HI offerings,” said Thomas Caulfield, president and CEO of GlobalFoundries. “The New York Advanced Packaging and Photonics Center will be unique in our industry and will play a vital role in the continued growth of the Empire State’s world-class semiconductor manufacturing and innovation ecosystem.”