Malta Growing – Businesses, Homes, GlobalFoundries
MALTA — After more than $2 billion in federal and state investments were awarded to GlobalFoundries, a semiconductor manufacturer headquartered in Malta, the town is continuing to see significant growth, including the addition of new businesses and residential developments.
Most of these recent changes, said Town Supervisor Cynthia Young, are consistent with the town’s stated mission to create an active downtown area filled with amenities. “When I first moved to Malta almost 40 years ago, there were no amenities,” Young said. “I had to leave Malta to get my hair cut, to get my dog groomed, to buy my groceries; and now all of those things are things that I can do here in Malta.”
The funds sent to GlobalFoundries will be used by the company to both expand its existing facility and build a new microchip fabrication plant. The projects are expected to create more than 10,000 new jobs. Young said that she hoped GlobalFoundries’ expansion would “spur some other businesses to come into the tech park.”
GlobalFoundries isn’t the only tech-focused business making waves in town. Last week, the Albany Business Review reported that Active Solar Development will build its nearly 13,000-square-foot, $3 million headquarters next to the Albany-Saratoga Speedway in Malta.
As new and expanded businesses bring more jobs to the area, developers are working on increasing the housing supply. Construction is already underway for DeGraff-Bloom Custom Builders’ 25-home development on Dunning St downtown. Young said that new homes were also being built in the northern part of town near Route 9, and that additional senior housing was being planned.
“I have been somewhat concerned about the escalating cost of housing in Malta,” Young said. “I’m hoping we can explore some opportunities to offer more modestly priced housing, but so far there’s nothing on the table for that.”
Young also said the town was working to protect some of its rural areas with conservation easements, in an effort to keep quality of life “balanced.”
As Malta continues to grow, Young encourages residents to contact her with any questions or concerns via phone 518-899-3434, or email: cyoung@malta-town.org.