GlobalFoundries is expanding its operations. Construction begins this year to build a new research and development facility. Our Megan Cruz tells us how this project will impact our area, and how it could bring even more investment in the future.
ALBANY, N.Y. -- "He can go to other states, other countries, but he has made a huge investment right here in New York State," said Lieutenant Governor Robert Duffy. His gratitude was obvious as he joined the CEO of GlobalFoundries to announce the expansion of the company's campus in Malta.
"We're committed to the state of New York, we're committed to the development, we're committed to the technology, and we are committed to partnering with the many partners in this area," said GlobalFoundries CEO Ajit Manocha.
The company announced plans this week to build a $2 billion technology development center. An equally grateful Manocha thanked the state for this opportunity, even without any new incentives.
"We can't do it by ourselves," he said. "Having the right kind of talent, the ecosystem around the Fab is the best thing that could've happened to us."
Talent made possible through education, which Manocha says Governor Cuomo has paved the way for.
"About 13 counties with several hundred schools and school districts, colleges, and institutes where we're trying to develop the skill set for a workforce," he said.
One of those schools: UAlbany's College of Nanoscale Science and Engineering. Its CEO said the state-school-company partnership works.
"Invest in the public side of the partnership, like the $400 million this year, the $5 billion last year, and let that investment in the schools like this college provide the innovation and education to support companies like GlobalFoundries," said Alain Kaloyeros, CNSE's CEO and Senior Vice President.
GlobalFoundries' expansion will create 1,000 new jobs for the company. But, as the company grows, people say so will the area.
"You are transforming our economy. You are bringing jobs, you are bringing incredible vitality to this economy, you are putting us on the map," said Duffy.
Kaloyeros said, "We hope for this to continue and prosper, including that $10 billion next investment we heard about."
"Let's not talk about the new fab yet," said Manocha.
Manocha said if all goes well with this project, he'd consider investing another $10 billion for a second plant.