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Projects to expand New York fab, build new fab, and upgrade Vermont fab for high-volume GaN manufacturing

GlobalFoundries announced Monday that it received $1.5 billion in federal funding, part of which will “modernize” its facility in Essex Junction. The money is part of the Biden administration’s $53

$1.5 billion potential investment will support the expansion of GlobalFoundries New York facility, including construction of a new state-of-the art fab, and the modernization of its Vermont facility, adding secure capacity for essential chip manufacturing for automotive and other key markets Additional $600 million plus planned in New York State Green CHIPS and other State benefits over the 10-year term of the New York projects MALTA, N.Y. and ESSEX JUNCTION, Vt., Feb. 19, 2024 (GLOBE NEWSWIRE)

The U.S. Department of Commerce today announced $1.5 billion in planned direct funding for GlobalFoundries as part of the U.S. CHIPS and Science Act. This investment will enable GF to expand and create new manufacturing capacity and capabilities to securely produce more essential chips for automotive, IoT, aerospace, defence, and other vital markets.

Last October, the University of Vermont and its partners beat out 400 other applicants to become one of 31 official Tech Hubs in the United States.