GlobalFoundries will receive $1.5 billion from the federal government, with $125 million earmarked for the company’s facility in Essex Junction.
In addition to the federal CHIPS and Science Act money, an additional $4.5 million grant from the Vermont Training Program will cover pre-employment training for 1,400 employees, including 400 new hires. (GlobalFoundries CEO Thomas Caulfield stressed this number includes other industries that support GlobalFoundries, like equipment manufacturers.)
At a press conference Friday, Caulfield said the money would be used to upgrade the company’s Fab 9 facility in Essex Junction, expanding capacity and making it the first U.S. facility capable of mass-producing new gallium nitride (GaN) semiconductors.
“GlobalFoundries, along with the state, state colleges and other partners, are also using the CHIPS Act investment and Tech Hub designation to put Vermont on the map as the place to be if you want in on GaN technology,” Gov. Phil Scott said.
The CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act was passed in 2022 to bolster America’s semiconductor industry. Currently, around 12% of semiconductors are produced in the U.S., with most produced in Taiwan, South Korea, Japan and China.
GlobalFoundries currently has around 1,800 employees in Vermont, making it the state’s largest private employer.
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