AMD's Foundry Co gets Albany incentives
NEWLY-FORMED AMD spinnoff, The Foundry Company has been given the green light by New York state's economic development arm, which finally approved $1.2 billion in state incentives for the firm’s new chip fab.
The approval of state incentives wasn’t exactly unexpected, and the five-member Empire State Development’s board of directors are said to have agreed unanimously.
DAAMIT FC’s shiny new $4.6 billion chip fab will be setting up shop at Luther Forest Technology Campus in Malta, over in Halfmoon, on the banks of the Hudson River. So excited are the residents of Saratoga County, the local government is even setting up a $54 million sewer expansion in anticipation.
The $1.2 billion in incentives had been previously approved to AMD, when the firm officially committed to build the plant back in October, but when AMD split into separate design and manufacturing companies, the economic development board had to decide whether to formally transfer the incentives to The Foundry Co instead.
The vote, which was supposed to take place last month, was delayed whilst the necessary paperwork was hurriedly drawn up. Now all that’s left for the joint venture between AMD and the Abu Dhabi-based Advanced Technology Investment Co is to get through a public hearing regarding the incentives on December 10th.
The state Public Authorities Control Board also has to approve the transfer before it can become completely official. µ
See Also
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If you have to rely on subsidies/incentives then you don't have a sustainable business and should look elsewhere.
The guy above me is an idiot. His comments contain barely veiled racism and no facts.
"Oil money" or not, a company is going to go where it is cheaper to do business and in order to reap all the rewards, i.e. employment, taxes, prestige, of having a big company in your state, states are willing to offer incentives. It just makes sense, you idiotic east coaster.
This despite the fact that FC is backed by Middle East oil money, thus making any incentives unnecessary. But then, NY politicians have always been for screwing taxpayers, doesn't matter in whose favor, any undeserving group will do. I should know, my wallet is still hurting from this year's tax bills.

I see where the Thai government has been dissolved by the courts, I wish our courts would do the same to the NY state government. Criminals are criminals no matter what language they speak or public office they hold.