GlobalFoundries Completes Purchase of 800 Acres Adjacent to New York Manufacturing Facility

MALTA, N.Y., April 27, 2023 – GlobalFoundries Inc. (Nasdaq: GFS) (GF) today announced it has completed the purchase of approximately 800 acres of additional land adjacent to its Malta, New York, manufacturing facility. With the purchase, which has been in process since early 2022, GF now owns the entirety of the approximately 1,110-acre park, formerly known as the Luther Forest Technology Campus.

With this additional land, GF has the flexibility to add manufacturing capacity and expand its footprint in New York in alignment with customer demand, and provide space for further development with its ecosystem partners. The rate and pace of GF’s expansion in Malta will be aligned with market conditions, customer commitments, and U.S. federal funding from the CHIPS and Science Act.

“Semiconductors are essential to daily life, and are at the heart of the U.S. economy, domestic supply chains, and national defense. GF stands ready to play a key role in the implementation of the CHIPS Act, which will boost U.S. semiconductor manufacturing by creating a globally competitive framework,” said Steven Grasso, managing director of global government relations at GF. “This land purchase gives us the space and flexibility we need in the near-term to service the growing market demand for secure, reliable U.S.-made chips. This purchase also represents GF’s long-term commitment to New York and growing the semiconductor ecosystem that supports both GF’s world-class manufacturing facility in Malta and the regional semiconductor cluster envisioned by the CHIPS Act.”

GF employs approximately 2,500 people in Malta, New York, and to date has invested more than $15 billion in the facility.  

About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit

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Forward-looking Information

This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. 

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Michael Mullaney
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