An Arizona-based semiconductor supplier will purchase GlobalFoundries' computer chip manufacturing plant in the Hudson Valley, adding 150 new jobs and preserving hundreds of others as part of a $720 million expansion plan, Gov. Andrew Cuomo announced Monday.
The Democrat said in a statement that Phoenix-based ON Semiconductor will establish its first 300mm chip manufacturing plant at GlobalFoundries' Fab 10 facility in East Fishkill, 60 miles (96 kilometers) north of New York City.
ON - Semiconductor - Jobs - East - Fishkill
ON Semiconductor has committed to creating 150 new jobs in East Fishkill and retaining a minimum of 950 existing jobs at the facility, Cuomo said.
"We're glad ON Semiconductor is choosing to deepen its roots here and its commitment to New York State," he said.
Deal - GlobalFoundries - Production - Fab - Facilities
The deal calls for GlobalFoundries to shift production from Fab 10 to their other facilities, including Fab 8 in Malta, New York, 100 miles (161 kilometers) north of East Fishkill.
The state has offered ON Semiconductor up to $17.5 million in grants toward the purchase of the Fab 10 property, plus another $22.5 million in tax credits over 10 years if the company meets its job creation and investment commitments.
Level - Capability - Capacity - Expansion - Answer
"The increased level of capability and capacity enabled by this expansion is our answer to meet critical market needs," Keith Jackson, president and CEO of ON Semiconductor, said...
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