119427

ESSEX JUNCTION, Vt. (WCAX) - While Essex Junction’s GlobalFoundries plant is only slated to get a small piece of the $1.5 billion in federal funding announced for the company this week, Vermont officials say it’s a commitment to retaining the state largest private sector employer. “This really ensures the viability of the plant for the future, the viability of those jobs here in Vermont,” said Vermont Economic Development Commissioner Joan Goldstein. The company is slated to receive $125 million for the Essex Junction plant’s $900 million Fab 9 expansion. a...

GlobalFoundries plans to use some of a $1.5 billion federal award to modernize its manufacturing hub in Essex Junction, the company announced on Monday morning. The funding, provided by the U.S. Department of Commerce, would help upgrade and expand the semiconductor giant’s Vermont facility, allowing it to build new chips there for use in electric vehicles, power grids, data centers and smartphones, according to a company press release. The funding would also support a major expansion of GlobalFoundries’ manufacturing operations at its campus in Malta, New York, the press release...

WASHINGTON (AP) — The Biden administration said Monday that the government intends to provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont. The announcement is the third award of direct financial support for a semiconductor company under the 2022 CHIPS and Science Act. The law enables the government to invest more than $52 billion to revitalize the manufacturing of computer chips in the United States as well as advance research and development. “The chips that GlobalFoundries will make in these...

WASHINGTON (AP) — The Biden administration said Monday that the government intends to provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont. The announcement is the third award of direct financial support for a semiconductor company under the 2022 CHIPS and Science Act. The law enables the government to invest more than $52 billion to revitalize the manufacturing of computer chips in the United States as well as advance research and development. “The chips that GlobalFoundries will make in these...

WASHINGTON (Reuters) - The U.S. government is awarding $1.5 billion to GlobalFoundries to expand semiconductor production, the Biden administration said on Monday, in a bid to strengthen domestic supply chains. GlobalFoundries, the world's third-largest contract chipmaker, will build a new semiconductor production facility in Malta, New York, and expand existing operations there and in Burlington, Vermont, according to a preliminary agreement with the Commerce Department.