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GlobalFoundries to invest $125 million in CHIPS funds in Vermont

A man stands at a podium and points to another man to his right. A pink and orange background is in the background.
Sophie Stephens
Vermont Public
GlobalFoundries CEO Thomas Caulfield (left) with former Sen. Patrick Leahy (right) at an event celebrating new federal CHIPS funding on Friday, March 1.

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.

A man looks out at a crowd from a podium with a bright pink background.
Sophie Stephens
Vermont Public
Gov. Phil Scott speaks at an event at GlobalFoundries in Essex Junction on Friday. It was announced in February that GlobalFoundries will be receiving $1.5 billion in federal CHIPS funds. $125 million will go to the Vermont facility.

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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Corey Dockser is Vermont Public’s first data journalist, a role combining programming and journalism to produce stories that would otherwise go unheard. His work ranges from complex interactive visualizations to simple web scraping and data cleaning. Corey graduated from Northeastern University in 2022 with a BS in data science and journalism. He previously worked at The Buffalo News in Buffalo, New York as a Dow Jones News Fund Data Journalism intern, and at The Boston Globe.
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