Big federal investment in GlobalFoundries will see major upgrades at their Essex Jct. plant [Video]

On Monday, GlobalFoundries announced they received $1.5 billion dollars in federal funding through the 2022 CHIPS and Science Act towards their manufacturing hubs in New York and Vermont.The fabrication facility in Essex Junction will receive $125 million dollars of the federal award.“It will upgrade the existing facilities, expanding capacity, and enabling high-volume manufacturing of next-generation technologies,” said Thomas Caulfield, GlobalFoundries CEO.According to GlobalFoundries, the upgrades will make the plant one of the biggest mass producers of a new type of Chip that will be used in electric vehicles, power grids, and the latest smartphone devices. “If anyone had any doubts, GlobalFoundries is a global player that has the confidence of the federal government and their own management to invest so much money here in Vermont,” said Joan Goldstein, Vermont’s Department of Economic Development Commissioner.Between New York and Vermont, The Biden Administration is promising 1,500 manufacturing jobs and 9,000 construction jobs …