Globalfoundries Expansion Means Growth for Malta, NY

Globalfoundries is one of the world’s leading semiconductor manufacturers that’s current commitment is to address the global chip demand. Their company recently moved their headquarters to their Malta, NY location in their Fab 8 facility.  

Over the last decade, Globalfoundries has invested over $15 billion dollars to support their manufacturing at this facility. Back in April of 2021, it was announced that Globalfoundries is doubling the investment to expand even further including doubling the site’s capacity.  

Globalfoundries currently has over 15,000 employees worldwide, with 7,000 of those people living in the United States. Almost 3,000 of those are living right here in Malta, NY. Creating this new fab will create over 1,000 new technology jobs for the company alone. The expansion will also add thousands of high-paying construction jobs to the area as well. 

These new job opportunities will bring new people to the Capital Region area that have a variety of educational backgrounds, anywhere from people fresh out of high school to professionals with PHD’s. This will not only help the local job market, but also increase diversity in Capital Region communities. 

Hudson Valley Community College, located in Troy, NY, currently has an apprenticeship training program with Globalfoundries employees. The Globalfoundries expansion project could potentially increase enrollment at the college as well. This is another great opportunity for the Capital Region as a whole. 

The influx of job openings at Globalfoundries alone, and the openings within the construction industry needed for this expansion project, are expected to bring thousands of new residents to Malta, NY. With this in mind, Elements at Luther Forest is being built. 

Elements at Saratoga Lake is a new construction apartment complex located in the Luther Forest Technology Park in Malta, NY. This is only 1.5 miles away from Globalfoundries, being the closest apartment complex to the company.  

Elements at Saratoga Lake will provide residents of Malta, NY with a welcoming community, state-of-the-art amenities, and an experience unlike any other in the area living among nature’s elements. Elements has started construction and is now leasing apartments for move-in of May 2022.  

If you are moving to the Malta, NY are for the Globalfoundries expansion, a construction project, or another job opportunity in the Capital Region, contact us today to learn more about our new community!