$1.5 Billion CHIPS Award to GlobalFoundries

WASHINGTON, DC —A massive $1.5 billion in federal funding has been awarded to GlobalFoundries to support semiconductor manufacturing. The funding — made possible by the CHIPS and Science Act that Democrats advanced two years ago — will create an estimated 10,000 construction and manufacturing jobs for the region.

Currently, there are only four companies outside of China that provide current and mature foundry capabilities at the scale of GlobalFoundries, and GlobalFoundries is the only one of those companies that is headquartered in the United States, according to the U.S. Department of Commerce. 

“The investments in jobs, manufacturing, and innovation continue to pour into our region, thanks to the Biden-Harris Investing in America Agenda,” said Congressman Paul Tonko, who represents Saratoga in the 20th Congressional District. “I fought hard to deliver critical funding to spur our nation’s semiconductor manufacturing over the years, and I’m thrilled to see that effort paying dividends for our Capital Region communities today. This federal investment in GlobalFoundries will further strengthen our region’s leadership position in semiconductor development.”