October 13, 2008
By: by Pam Allen, The Business Review
When the new $4.6 billion chip plant is up and running, it will have a payroll of $88 million a year and contribute about $200 million to the local economy, an Advanced Micro Devices Inc. official said today.
Ward Tisdale, AMD's (NYSE: AMD) manager of global community affairs, provided those figures and more during an event sponsored by the Saratoga Economic Development Corp., which operates the Luther Forest Technology Campus, where the plant will be located, and the Saratoga Chamber of Commerce.
AMD announced this week that it was spinning off its manufacturing into a new company, The Foundry Co., that it was forming with Advanced Technology Investment Co. (ATIC), based in Abu Dhabi.
If approved by regulators and shareholders, and if New York agrees to transfer its $1.2 billion incentive package promised to AMD to the new entity, The Foundry Co. would break ground in the spring.
AMD said the new company's payroll will hit $88 million by 2012, when the first chips are being produced.
It will take 1,600 construction workers to build the plant over a two-year period.
Tisdale told the 300 people attending AMD's talk at the Holiday Inn in Saratoga Springs that another 5,000 jobs are expected to be created in the region as a result of the chip plant being built.
As for the jobs at the foundry, Tisdale said 200-300 would be engineering, 300-500 would be fab technicians and 200 would be administrators.