GlobalFoundries, a leading semiconductor chip manufacturer, is seeking federal funding to enhance its ability to produce semiconductors and modernize its facilities in the U.S., including their property in Malta.

The company has applied to participate in the federal grants and investment tax credits made available through the CHIPS and Science Act. As a crucial supplier to various industries, including automotive, aerospace, defense, IoT, and the U.S. government, GlobalFoundries recognizes the importance of federal support in continuing to grow their manufacturing footprint, strengthening economic security, supply chain resiliency, and national defense.

The $280 billion CHIPS and Science Act, a significant achievement of President Joe Biden, aims to stimulate investment in the semiconductor industry to boost the nation’s economy and compete with China.

This announcement follows GlobalFoundries being awarded a $3.1 billion, 10-year contract from the Department of Defense for semiconductor chip creation.

U.S. Senate Majority Leader Chuck Schumer praised GlobalFoundries’ application, acknowledging the company’s important role in expanding manufacturing abilities in New York and highlighting the potential of Upstate New York to become a powerhouse in semiconductor manufacturing.

GlobalFoundries also recently formed a semiconductor partnership with Lockheed Majority Leader Chuck Schumer praised GlobalFoundries’ application, acknowledging the company’s important role in expanding manufacturing abilities in New York and highlighting the potential of Upstate New York to become a powerhouse in semiconductor manufacturing.

GlobalFoundries also recently formed a semiconductor partnership with Lockheed Martin to support defense and aerospace systems. Additionally, the company has acquired additional land in Luther Forest Technology Park for the construction of a new factory.

Overall, GlobalFoundries’ pursuit of federal funding and its various initiatives solidify its position as a key player in the semiconductor industry and a driving force behind U.S. economic growth and national security.