Posted at: 01/08/2013 4:40 PM
Updated at: 01/09/2013 9:36 AM
By: Mark Mulholland
MALTA - Computer chip maker GLOBALFOUNDRIES announced Tuesday afternoon that they plan to build a 500,000-square-foot research center on land they own in Malta's Luther Forest.
The center will be adjacent to the company's so-called "Fab 8" where about 2,000 people now work.
The company's announcement has leaders of the business community smiling.
The company says their "Technology Development Center" will cost about $2 billion to build and will include a clean room where GLOBALFOUNDRIES will test its products and production.
"It's fantastic for us," says Michael Relyea, of the Luther Forest Technology Campus, "It gets more trucks on the site, it gets more people on the site. Really the activity is what we're looking for. Not only just in Luther Forest, but in the region."
GLOBALFOUNDRIES will begin construction in the spring, as soon as the weather allows. With the addition of a a thousand more, the company says it will have three-thousand people on the local payroll by the end of 2014.
"Their people end up living here, buying homes here, buying furniture, eating at restaurants. It has an exponential impact within the community," said Todd Shimkus, president of the Saratoga County Chamber of Commerce.