Fabrication In Arizona

Incentive for GlobalFoundries good for NY

A recent Times Union editorial opposed a potential deal between the state and GlobalFoundries to lever additional private investment by the company ("Think again, GlobalFoundries," July 6). It's easy to oppose public spending in tough budgetary times, but the good deal the state and the company made in 2006 isn't "corporate welfare." Before the Times Union opposes a second deal, we should review the facts.

Foreign governments -- and places such as Arizona and Oregon -- are actively competing for chip fabrication plants that create jobs and drive economic growth. In 2006, New York plunked down $1.4 billion through a combination of reimbursements and tax credits to match what started at $4.2 billion worth of investment from GlobalFoundries -- although the company subsequently expanded its facility and its stake is closer to $7 billion.

In a report I authored at the company's request, and as others have reported, the effects of the Fab 8 project go far beyond the 1,600 people the plant employs directly. It is a high-powered economic engine that is turning upstate New York into a global center for advanced technology manufacturing.

GlobalFoundries has expanded its fab and added administrative facilities on its own dime, and the Fab 8 campus in Saratoga County has space to host up to three fabs. But absent incentives, it's hard to justify additional fabs in New York. The state may not want to subsidize a new, world-class facility, but other locations can, and will. The European Commission recently authorized $310 million in subsidies to match an investment of $2.8 billion by GlobalFoundries to expand its facility in Dresden, Germany, the largest and most advanced semiconductor manufacturing facility in Europe.

The Times Union is wrong to argue that the company should "take off the training wheels and learn to ride on its own." The original economic incentives offered to GlobalFoundries were not based on the company's inability to fund itself, but rather were necessary to help level the playing field on which New York competes with other locations around the world. GlobalFoundries is a player in a global semiconductor industry. The question isn't whether the company can "ride on its own," but whether New York wants to be the home to these kinds of facilities. Without incentives, companies like GlobalFoundries will focus on other regions around the world.

And the Times Union should note that walking away from the prospect of another world-class fab in New York means walking away from a long-term economic development strategy that is actually working. Under governors from both political parties, the state executed a visionary plan to build on local assets such as University at Albany's College of Nanoscale Science and Engineering and Rensselaer Polytechnic Institute, and the presence of IBM to create a world-leading technological cluster that would attract big firms, their vendors and partners, smaller start-ups, new education and research facilities and other assets that would let the Hudson Valley compete for leadership in U.S. industry. And it's all happening, thanks to the state's ongoing involvement and its partnership with companies such as GlobalFoundries.

Process Fabrication Inc - Contractors Arizona

Attn: Kreckler, Kurt John

1540 W Prescott Dr

Chandler, Arizona

ZIP Code: 85248

Phone number: Not found. If you know the phone number please leave a note.

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