GlobalFoundries selling East Fishkill facility
Apr 22, 2019 1:45 pm
Eric Anderson is reporting for the Times Union GlobalFoundries is selling its plant in Dutchess County to Phoenix-based ON Semiconductor. Gov. Andrew Cuomo announced the purchase April 22. ON Semiconductor is paying $430 million to GlobalFoundries for the East Fishkill facility, and will use the plant, called Fab 10, to produce microprocessors on 300 mm discs, the current standard for the semiconductor industry. The deal is structured so that ON will takes full control of the plant in 2022. The company has committed to hiring the 950 East Fishkill employees and creating an additional 150 positions. GlobalFoundries will transfer its ongoing operations to its other facilities. Empire State Development is offering $17.5 million in grants toward the purchase as well as $22.5 million in Excelsior Jobs Program tax credits, based on the company's ability to meet its job creation commitments. Read the full story in the Times Union.