GlobalFoundries and Biden-Harris Administration Announce CHIPS and Science Act Funding for Essential Chip Manufacturing

URLhttps://gf.com/gf-press-release/globalfoundries-an
SourceGlobalFoundries
Date Published02/19/2024

Additional Reshoring Information:

Company/Division name Global Foundries
Parent companyGlobalFoundries
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):1500
Year reshoring announced:2024
Capital investment ($):12000
City reshored to:Malta NY and Essex Junction, Vermont
State(s) reshored to:NY
If relevant, work nearshored to:-
Industry(ies):Computer & Electronic Products
Product(s) reshoredchips
What non-domestic negative factors made offshoring less attractive?Supply chain interruption
What domestic positive factors made reshoring more attractive?Automation/technology, Better Control of Process/Delivery/Factory, Customization/Flexibility, Govt. Policy and subsidies, Higher productivity, Image/brand, Impact on domestic economy, Manufacturing/engineering joint innovation (R&D), Proximity to customers/market, Skilled workforce availability/training, US CHIPS and NY Green CHIPS Acts
Government Incentive dollar amount:US: $1.5bil and NY: $600mil
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