Biden admin providing $1.5 billion to GlobalFoundries to make computer chips in New York and Vermont

By JOSH BOAK
Associated Press

WASHINGTON (AP) — The Biden administration says that the government would provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont. The announcement is the third award of financial support for a semiconductor company under the 2022 CHIPS and Science Act. The law enables the government to invest more than $52 billion to revitalize the manufacturing of computer chips in the United States as well as advance research and development. GlobalFoundries intends to use the funding to help pay for the construction of a new advanced chip factory in Malta, New York, increase production at its existing plant in Malta, and revitalize its plant in Burlington, Vermont.