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AMD gets $1.2 billion incentives from NY

Posted on Monday, December 01 2008 @ 21:05:07 CET by

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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