FUD Zilla reports Globalfoundries CEO Ajit Manocha is urging European governments to offer incentives to build multibillion-dollar advanced chip manufacturing plants in the continent. Manocha says such incentives will keep Asia from reaping the benefits of European innovations, and enable the region to keep up with what's happening in the US and Asia. He does admit though that chip manufacturing plants provide relatively few jobs, but the ones they do provide pay well.
Local governments in the United States as well as countries in Asia have offered incentives to chipmakers as they plan where to build a new generation of fabrication plants, or fabs, expected to cost over $10 billion each. Manocha said that if he goes to Asia, they will roll out the red carpet for us, they'll do lots of subsidies. The State of New York also does a good job.
Europe apparently just has a regionally appointed rude French person to say “Non” all the time it is starting to hack Manocha off. It is not just GloFlo who would benefit. If the EU pulled finger on funding, it could score more business from Intel which has a fab in Germany and STMicroelectronics.