GlobalFoundries to build new chip plant in Upstate New York

URLhttps://vermontbiz.com/news/2021/july/19/globalfou
Sourcevermontbiz
Date Published07/19/2021
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name GlobalFoundries Inc
Parent companyMubadala Investment Company
Type of work Manufacturing
If manufacturing, is the company a contract manufacturer?Yes
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):1000
Year reshoring announced:2021
Country(ies) from which reshored:United Arab Emirates
City reshored to:Malta
State(s) reshored to:NY
If relevant, work nearshored to:-
Industry(ies):Computer & Electronic Products
Product(s) reshoredsemiconductor chips
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Government Incentives, Lead time/Time to market, Other, import replacement
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