The board of directors of Globlafoundries has officially committed
building its new fab in the Luther Forest Technology Campus, Malta, NY.
Although this is just another in a series of procedural steps, it is
important, as it is the main precondition to getting New York State's
$1.2 billion incentive package, which can only be approved after the
board has committed to the project. The incentive package includes $650
million in cash, and the State plans to raise the cash by issuing bonds.
Construction is slated to commence this summer, and the new
manufacturing facility, known as Fab 2, is scheduled for completion by
2011, while full scale production is expected in 2012. Globalfoundries
is already working on attaining building permits for temporary
structures, and some permanent structures as well.
More
here.