January 10, 2013
GlobalFoundries CEO touts $2B investment with Albany visit today
By: Adam Sichko
Source: The Business Review
The CEO of GlobalFoundries Inc. visits the Capital Region today to
tout a new $2 billion investment at the company’s computer-chip factory
in Malta, New York.
The trip marks just the second appearance in
this region for Ajit Manocha since he became the top executive for
GlobalFoundries in mid-2011.
New York state recruited
GlobalFoundries with a record incentives package now valued at nearly $2
billion. The company, owned by the government of Abu Dhabi, in the
United Arab Emirates, now employs 1,950 workers in Malta and expects to
hire at least 300-400 more in 2013.
This morning, Manocha will be
at the University at Albany’s College of Nanoscale Science and
Engineering, a world-renowned hub for researching how to make computer
chips more powerful and more efficient to produce.
Manocha will be
joined by college representatives and Lt. Gov. Robert Duffy. Together,
they’ll highlight a project GlobalFoundries has pursued for months, but
officially committed to this week: a $2 billion, 500,000-square-foot
technology R&D center.
The R&D center will employ 1,000
people when fully open in 2014, likely giving GlobalFoundries more than
3,000 employees overall at that point. No general contractor has been
The construction pushes the price tag of the company’s
investments in Malta beyond $8 billion. It also deepens the company’s
roots in Malta, increasing the chances, if only a little, that a second
manufacturing plant may eventually be built on the same 223-acre
Manocha’s only other Capital Region appearance came in
May 2012, when he briefly addressed an invitation-only crowd before
President Obama spoke at the University at Albany’s College of Nanoscale
Science and Engineering.
“The Capital Region is now a hub in
global technology. GlobalFoundries is proof that manufacturing jobs can
come home and the engine of American innovation is alive and well,”
Manocha said before Obama took the stage.
Manocha succeeded Doug
Grose, who was born in Cooperstown and is a graduate of Rensselaer
Polytechnic Institute, in Troy. Manocha has worked in the industry for
more than 30 years, most recently with Flash memory-chip maker Spansion,