Remarks at Presidential visit highlight historic investments in new advanced manufacturing jobs
In coordination with The White House, GLOBALFOUNDRIES today helped host a visit by President Barack Obama to New York's Capital Region. The President's visit, originally planned to be held at Fab 8, was moved to the College of Nanoscale Science and Engineering's (CNSE) NanoTech Complex at the State University of New York in Albany for logistical reasons.
As part of President Obama's visit to highlight the historic public and private investments in new advanced manufacturing, research and development, and education facilities helping to revitalize upstate New York and strategically position the United States in the global economy, GLOBALFOUNDRIES CEO Ajit Manocha addressed the crowd of over 500 people:
"It is an honor to welcome President Obama, a champion of American innovation, who recognizes the importance of manufacturing, the value of technology, and the critical need to build a skilled workforce, as the cornerstones for staying competitive in the global economy.
President Obama's visit is another example of his commitment to bringing new manufacturing jobs home to the U.S. Thanks to the President's leadership, American manufacturing is climbing back, with almost half a million jobs added in the manufacturing sector since 2010. The Administration's Advanced Manufacturing Partnership and support for the America Invents Act, is moving the country forward.
GLOBALFOUNDRIES is proud to be part of this momentum. Our Fab 8 project is the first leading-edge, pure play, semiconductor foundry to be built in the U.S. and is one of the largest new manufacturing projects in the world. It is here that GLOBALFOUNDRIES is working on innovation and advanced technology to create products that change and improve the way we live and work.
At GLOBALFOUNDRIES, we continue to invest in R&D which is creating new job opportunities and industries, driving the flywheel of economic growth. We have seen that Fab 8 is a key driver in the revitalization of Tech Valley – well on its way to becoming the country's premier nanotech center.
Furthermore, by being located right here in the United States, we are helping to protect our homegrown innovations and ensuring the security of our customers' intellectual property.
None of this would have been possible without support from federal, state and local governments, the State University of New York, community colleges, and the larger business community. Public-private partnerships supporting advanced manufacturing and research are invaluable to advancing the nation's economy. We are so proud to be a part of this success.
Because of the success of this partnership, Fab 8 is expected to be the most advanced semiconductor fab in the world, creating more than 1,600 new direct jobs and approximately 8,000 additional new indirect jobs, representing an annual payroll of over $300 million.
And we are proud that veterans make up approximately 10 percent of Fab 8's current workforce. Our recently announced 'Field to Fab' initiative will continue to find great new careers in advanced manufacturing for our veterans returning from the field of military operations.
We are also working with community colleges and high schools to provide skills for those looking for a new career path. Together with regional partners and the Center for Economic Growth we are launching a 13-county education initiative to add new programs to the education system, supporting the growth and opportunities we see here in Tech Valley, bringing it all full circle.
And the Capital Region is now a hub for the technology industry, attracting global firms, vendors, suppliers, start-ups, and new research facilities. These are truly exciting times.
GLOBALFOUNDRIES is proof that new manufacturing jobs can be created here and that the American innovation engine is alive and well.
Thank you, President Obama, for your leadership and your continuous support of economic growth, innovation, and technology leadership. It is a special day in Tech Valley and we are honored to have you here," said Ajit Manocha, CEO, GLOBALFOUNDRIES.
Consisting of almost two million square feet with an estimated capital budget of approximately $6.9 billion, Fab 8 is currently the world's most advanced operating semiconductor fab. Fab 8 is expected ramp to volume production in late 2012 and, upon full build out, will have a production capacity of approximately 60,000 wafers per month.
Since breaking ground on Fab 8 in 2009, GLOBALFOUNDRIES has created more than 1,300 new direct jobs, developing a unique and diverse workforce drawn from local talent in the region as well as experienced professionals from across the United States and more than 25 countries.
In addition, the project has created an additional 4,300 construction related jobs and established the largest private Project Labor Agreement in history, generating hundreds of millions of dollars of economic development throughout upstate New York during the worst economic downturn since the Great Depression.
GLOBALFOUNDRIES has a total of about 1,500 employees across New York, including research teams at the IBM facilities in East Fishkill and at CNSE at the University of Albany, and more than 12,000 employees worldwide with six manufacturing campuses in Germany and Singapore.
Fab 8 is being developed in the center of what has been described as "Tech Valley": a 19-county region of eastern New York State that spans from just south of Montreal to just north of New York City.
Over the past decade, what is today known as "Tech Valley" has seen billions of dollars of public and private investment, the result of which is the development of a true technology cluster in upstate New York with more than 200 high-tech companies, including many of the companies involved in the GLOBALFOUNDRIES supply chain, such as M+W Group, Tokyo Electron, KLA-Tencor, Matheson Tri-Gas, and Air Liquide.
Because the nature semiconductor manufacturing is so complex and requires a high degree of industry collaboration, even among competitors, operating advanced manufacturing physically close to leading-edge industry R&D Tech Valley's burgeoning semiconductor "ecosystem" give GLOBALFOUNDRIES a unique competitive advantage in the global marketplace.
Recognizing the region's significance, Forbes recently placed the region at #4 on its annual lists Best Cities for Jobs in the U.S., specifically citing many of these assets as contributing to the region's economic outlook, and specifically recognizing the Fab 8 project as a key engine driving job creation and boosting economic activity in the region.
GLOBALFOUNDRIES is the world's first full-service semiconductor foundry with a truly global footprint. Launched in March 2009, the company has quickly achieved scale as one of the largest foundries in the world, providing a unique combination of advanced technology and manufacturing to more than 150 customers. With operations in Singapore, Germany and the United States, GLOBALFOUNDRIES is the only foundry that offers the flexibility and security of manufacturing centers spanning three continents. The company's three 300mm fabs and five 200mm fabs provide the full range of process technologies from mainstream to the leading edge. This global manufacturing footprint is supported by major facilities for research, development and design enablement located near hubs of semiconductor activity in the United States, Europe and Asia. GLOBALFOUNDRIES is owned by the Advanced Technology Investment Company (ATIC). For more information, visit http://www.globalfoundries.com.
Travis Bullard, 518-305-9025