GlobalFoundries announced it has secured a purchase option agreement for approximately 66 acres of undeveloped land adjacent to what it calls its most advanced manufacturing facility, Fab 8 in Malta near the Luther Forest Technology Campus (LFTC).
The land parcel is located at the southeast end of the New York State Energy Research and Development Authority (NYSERDA) Saratoga Technology + Energy Park (STEP) campus, adjacent to Stonebreak Road Extension, between the Fab 8 facility and Hermes Road.
Exercising the option to purchase the land and commencement of development to expand the company’s Fab 8 facility will be subject to zoning regulations and client demand.
“GlobalFoundries continues to demonstrate its commitment to economic growth in Saratoga County and Upstate New York,” said Darren O’Connor, Malta town supervisor. “I am pleased to hear that this latest step will enable future growth opportunities.”
“Amid growing consensus in our nation’s capital for investment in semiconductor manufacturing, it’s more important than ever that we are ready to fast track our growth plans,” said Ron Sampson, GlobalFoundries senior vice president and general manager of U.S. fab operations. “With this agreement option, we now have additional flexibility to expand our footprint and position Fab 8 for future growth in Saratoga County and New York state, while strengthening U.S. leadership in semiconductor manufacturing.”