# GlobalFoundries receives up to $1.5B CHIPS Act award for New York and Vermont fabs

GlobalFoundries and the U.S. Department of Commerce announced an award of up to $1.5 billion in direct funding through the CHIPS and Science Act. The funding will support expansion of GF's Malta, New York fab, modernization of its Essex Junction, Vermont fab, and construction of a new fab in Malta, New York.

- Type: Investment
- Announced: 2024-11-20
- Where: Malta, New York; Essex Junction, Vermont, United States
- Value: $1.50B
- Status: announced
- Products: essential chips, gallium nitride semiconductors
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [GlobalFoundries](https://endata.com/companies/664.md)
- [U.S. Department of Commerce](https://endata.com/companies/74718.md) (investor)

## Sources

- [gf.com](https://gf.com/news-and-events/news/globalfoundries-and-u-s-department-of-commerce-announce-award-agreement-on-chips-act-funding-for-essential-chip-manufacturing/), 2024-11-20: "GF's essential chips are at the core of U.S. economic, supply chain and national security"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.