Biden-Harris Administration Announces CHIPS Incentives Award with GlobalFoundries to Strengthen Essential Chip Supply for Key U.S. Industries Including Auto and Defense

CHIPS Investment of up to $1.5 Billion Will Support Multiple Projects in New York and Vermont and Create Approximately 10,000 Construction and Manufacturing Jobs

Media Contact: Maddy Broas, madeline.broas [at] chips.gov (madeline[dot]broas[at]chips[dot]gov)

Today, the Biden-Harris Administration announced that the U.S. Department of Commerce awarded GlobalFoundries (GF) up to $1.5 billion in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities. The award comes after the previously signed preliminary memorandum of terms, announced on February 19, 2024, and the completion of the Department’s due diligence. The award will bolster U.S. competitiveness in current-generation semiconductor production by supporting the company’s investment of approximately $13 billion over the next 10-plus years in its U.S manufacturing sites in New York and Vermont, which produce essential automotive, smart mobile, aerospace and ...