How to resolve AdBlock issue? Though spokespeople for GlobalFoundries have refused to comment on the potential deal to any news outlets, U.S. Senator Chuck Schumer (D, NY) confirmed in a statement July 15 that GlobalFoundries CEO Ajit Manocha approached him months ago to help the company develop a “stronger relationship” with Apple, which has been trying to do more of its manufacturing in the U.S. after media coverage reflected the poor working conditions at its Chinese plants, reports said.
Schumer disclosed that he has been in talks with both Apple and GlobalFoundries, “urging Apple to consider developing a manufacturing and research partnership with GlobalFoundries.”
“This would be show-stopping news in the Capital Region, and I am doing everything I can to make this a reality,” Schumer said.
At full capacity, Fab 8 can manufacture 60,000 wafers a month, and according to tech websites already makes the kind of chips that Apple wants to manufacture.
In other GlobalFoundries news, the computer chip maker has raised $69 million through bond sales which were issued by the Saratoga County Industrial Development Agency in May. The bonds went on sale July 15 and were classified as low risk by Moody’s.
The nonprofit that runs Luther Forest has stopped receiving funding from the state, leading to GlobalFoundries having to sell bonds to raise the funds for infrastructure projects including building a $10 million gas line in addition to new roads and water lines.
By financing the work through bond sales, GlobalFoundries can have the cost reimbursed through the state’s Empire Zones tax credits program.
