GlobalFoundries received the final last local approval needed to go ahead with the construction of a second major building on its Malta property.
Officials said the billion computer chip factory will cost $6 billion to $8 billion. It comes as the computer chip industry worldwide has expressed the need to increase capacity to overcome a semiconductor shortage.
In another boost to the project, on July 28, the U.S. House of Representatives passed legislation to increase U.S. semiconductor manufacturing known as “CHIPS and Science Act” and the day before the U.S. Senate has passed his historic federal semiconductor incentive, scientific research, and technological competitiveness bill to bring manufacturing back from overseas to places like Upstate New York.
The CHIPS legislation now moves to the White House and awaits President Biden’s signature. The Biden Administration has been a strong supporter of increasing semiconductor manufacturing and the many jobs it creates in the U.S..
“With the votes taken in the House of Representatives and yesterday in the U.S. Senate, Congress has expressed broad, bipartisan and national support for leveling the playing field for competitive semiconductor manufacturing in the U.S.,” said Dr. Thomas Caulfield, GlobalFoundries president and CEO. “Congress took action to protect U.S. economic, supply chain and national security by accelerating semiconductor manufacturing on American soil.”