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News Article

Barack Obama welcomed by GLOBALFOUNDRIES

Investments in new advanced manufacturing jobs sparks a visit from the President of the U.S.A.

GLOBALFOUNDRIES helped host a visit by President Barack Obama to New York's Capital Region on Tuesday, May 8th, 2012.


The President's visit, originally planned to be held at Fab 8, was moved to the College of Nanoscale Science and Engineering's (CNSE) NanoTech Complex at the State University of New York in Albany for logistical reasons.


President Obama's visit will highlight the historic public and private investments in new advanced manufacturing, R&D, and education facilities helping to revitalise upstate New York and strategically position the United States in the global economy.


New York's Tech Valley is now a major hub for the global technology industry, attracting big firms, such as GLOBALFOUNDRIES, GE and IBM, as well as their suppliers, and smaller start-ups.


The region is also home to world-renowned education and research facilities such as the global semiconductor research consortia SEMATECH, Rensselear Polytechnic Institute, and CNSE at the University of Albany.


"The President's visit highlights the success of this region to create new public-private economic development initiatives. We're proud of the role we are playing as a leading semiconductor manufacturer, investing in the new R&D and manufacturing operations now driving innovation, creating new jobs, and increasing economic opportunities throughout the Capital Region," says Ajit Manocha, CEO, GLOBALFOUNDRIES.


"On behalf of our more than 12,000 employees worldwide, and our more than 1,500 employees in New York, I thank President Obama and leaders in this region for recognising the impact our investments are making to create new jobs and develop upstate New York as a premier hub for the global economy. 


Fab 8 is almost two million square feet with an estimated capital budget of approximately $6.9 billion, and is one of the world's most advanced operating semiconductor fabs. Fab 8 is expected to ramp to volume production in late 2012 and, when complete, will have a production capacity of approximately 60,000 wafers per month.


Since breaking ground on Fab 8 in 2009, more than 1,300 new jobs have been developed and a unique and diverse workforce drawn from local talent in the region as well as experienced professionals from across the United States and more than 25 countries.


The project has also created an additional 4,300 construction related jobs and established the largest private Project Labor Agreement in history, generating hundreds of millions of dollars of economic development throughout upstate New York during the worst economic downturn since the Great Depression.


GLOBALFOUNDRIES has a total of about 1,500 employees across New York, including research teams at the IBM facilities in East Fishkill and at CNSE at the University of Albany, and more than 12,000 employees worldwide with six manufacturing campuses in Germany and Singapore.


Fab 8 is being developed in the centre of what has been described as "Tech Valley", a 19-county region of eastern New York State that spans from just south of Montreal to just north of New York City.


In the last decade, Tech Valley has seen billions of dollars of public and private investment, the result of which is the development of a true technology cluster in upstate New York with more than 200 high-tech companies. These include many of the companies involved in the GLOBALFOUNDRIES supply chain, such as Air Liquide, Applied Materials, ASML, KLA-Tencor, M+W Group, Matheson Tri-Gas, and Tokyo Electron Limited.

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