AMD gets $1.2 billion incentives from NY

Posted on Monday, December 01 2008 @ 21:05 CET by Thomas De Maesschalck
New York state's economic development arm, Empire State Development, has approved to give AMD a package of incentives worth $1.2 billion:
The benefit package, given to AMD in 2006, was transferred to a new partnership between AMD and an Abu Dhabi technology investment fund that is investing in it during a meeting in New York City.

AMD announced in October it was spinning off its expensive manufacturing operations to the new joint venture, being called The Foundry Co.

The incentives include a $650 million cash payment by the state and Empire Zone state tax credits, as well as infrastructure investment.


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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