The board of directors of the Empire State Development Corp. meets Thursday in Manhattan. Board members had been scheduled to vote on whether to transfer a $1.2 billion package of state incentives from Sunnyvale-based AMD (NYSE: AMD) to The Foundry Co., a joint venture between AMD and Advanced Technology Investment Co., which is based in Abu Dhabi, the capital of the United Arab Emirates.
Instead, that vote has been postponed until a December meeting, according to AMD and state officials.
Travis Bullard, a spokesman for AMD, said the decision to push off a vote until the board’s December meeting does not delay the plant.
“Everyone’s still really optimistic,” Bullard said. “With a project of this size, there’s a lot of documentation to be put together for [Empire State Development] to make that transaction. It was a sort of aggressive goal to get everything ready for [today].”
NY delays vote on funding for AMD fab
Posted on Friday, November 21 2008 @ 22:03 CET by Thomas De Maesschalck