MALTA — GlobalFoundries has completed the purchase of approximately 800 acres adjacent to its chip manufacturing plant, giving the company enough land to eventually build a second chip fab.
The $13.2 million purchase also means that the company now owns all of the 1,110-acre spot formerly known as the Luther Forest Technology Campus. Luther Forest previously owned the acreage.
The purchase has been in the works for more than a year and was announced by the company last week.
“Semiconductors are essential to daily life and are at the heart of the U.S. economy, domestic supply chains, and national defense. GF stands ready to play a key role in the implementation of the CHIPS Act, which will boost U.S. semiconductor manufacturing by creating a globally competitive framework,” Steven Grasso, managing director of global government relations at GlobalFoundries said in a prepared statement.
“This land purchase gives us the space and flexibility we need in the near term to service the growing market demand for secure, reliable U.S.-made chips. This purchase also represents GF’s long-term commitment to New York and growing the semiconductor ecosystem that supports both GF’s world-class manufacturing facility in Malta and the regional semiconductor cluster envisioned by the CHIPS Act.”
“From where I sit as a Malta councilman I feel good that Global Foundries has all the land they need to fulfill their expansion plans,” town Councilman Tim Dunn said. “I think that they have everything that they need now to undertake their next phase of expansion.”
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