New York's Empire State Development and Public Authorities Control Board have approved a plan to give AMD's fab spinoff The Foundry Company $650 million worth of incentives to build a few in Saratoga County, New York. Construction on the $4.6 billion plant, which will employ 1,400 workers, must begin before July 2009.
The funds, awarded to AMD in 2006, are earmarked for the construction of a 300-millimeter wafer fabrication plant in Saratoga County, New York. Construction on the plant must begin before July 2009, according to terms of the original grant.
In October, AMD signed a US$2.1 billion deal to spin off its manufacturing operations as The Foundry Co., backed by the Advanced Technology Investment Co. of Abu Dhabi and Mubadala Investment, an investment arm of the Abu Dhabi government.