Overview

• The U.S. Department of Commerce finalized a $1.5 billion award to GlobalFoundries under the CHIPS and Science Act.
• The investment will support the expansion of semiconductor manufacturing facilities in New York and Vermont.
• GlobalFoundries plans to invest $13 billion over the next decade to enhance its U.S. production capabilities.
• The initiative is expected to create around 10,000 jobs, including 9,000 construction and 1,000 manufacturing positions.
• This funding is part of a broader effort to increase domestic chip production and reduce reliance on East Asian suppliers.