SCHUMER APPLAUDS $375 MILLION FOR GLOBALFOUNDRIES FROM HIS CHIPS & SCIENCE LAW TO LAUNCH NEW QUANTUM BUSINESS

Schumer Previously Delivered Whopping $1.5B Award From His CHIPS & Science Law For GlobalFoundries To Expand Current Fab & Build New, State-Of-The-Art Second Manufacturing Facility In Malta, Bringing GlobalFoundries' Total Investment In Capital Region To $16B

New Quantum Biz Will Position America At Forefront Of Technological Innovation And Expand Domestic Manufacturing Capacity For Quantum Industry

Schumer: GlobalFoundries And IBM Are Powering America's Leadership In Quantum In Capital Region

U.S. Senator Chuck Schumer today applauded GlobalFoundries receiving a letter of intent from the Commerce Department to award up to $375 million in federal funding from Schumer's CHIPS & Science Law to launch Quantum Technology Solutions, a new quantum business within GlobalFoundries that will position America at the forefront of technology innovation. Schumer said this funding, made possible by his CHIPS & Science Law, will help expand America's domestic manufacturing capacity for large-scale quantum computers.

"GlobalFoundries is powering the nation's leadership in quantum technology right here in the Capital Region. Quantum technology will define the next century of innovation, and GlobalFoundries and IBM are helping the Capital Region to become the command center of those efforts. GlobalFoundries' investment will enable them to build the foundation for America's domestic supply of chips that we need to lead in quantum technology," said Senator Schumer. "None of this would have been possible without my CHIPS & Science Law and the billions of dollars of federal investment in CHIPS R&D it included. Together, we are writing the next chapter of American leadership in innovation with New York as a global hub for R&D and manufacturing."

GlobalFoundries is also a key partner of a second CHIPS R&D letter of intent announced today of up to $100 million to Quantinuum, which will lead to further federal investment and jobs in the Capital Region-a partnership that Schumer has helped facilitate as part of this CHIPS investment. Additionally, GlobalFoundries has been a long-time partner and manufacturer for PsiQuantum, which is also receiving $100 million from the CHIPS R&D program. Schumer has long been a supporter of PsiQuantum's work with GlobalFoundries, delivering $25 million in federal funding in 2022 to expand research and development spearheaded out of the Air Force Research Laboratory in Rome, New York, to manufacture and test photonic quantum computing technology. GlobalFoundries is a leading producer of essential chips that are critical across industries, from mobile phones and artificial intelligence to automobiles and defense technologies. GlobalFoundries' chips are also critical to the development of quantum technologies, which is critical to American leadership in global innovation.

Schumer has long supported GlobalFoundries' growth in the Capital Region, delivering a CHIPS award of up to $1.5 billion in direct funding through the bipartisan CHIPS & Science Law he initiated and successfully passed into law. The funding is supporting the expansion of GlobalFoundries' existing fab in Malta, NY, and the construction of a second, state-of-the-art fab at the same site, in addition to the modernization of the company's current facility in VT, all of which will create thousands of new, good-paying manufacturing and construction jobs. GlobalFoundries then secured an additional $75 million in CHIPS funding to make a $3 billion investment to create a first-of-its-kind advanced chip packaging facility at its Saratoga County location, thanks to Schumer's CHIPS & Science Law.

Thanks to Schumer's CHIPS & Science Law, Upstate New York has seen a major revival in tech manufacturing. In addition to massive federal funding for GlobalFoundries to grow in the Capitol Region, Micron has broken ground for a historic $100+ billion investment to build a cutting-edge memory fab in Central New York with the support of an over $6 billion CHIPS agreement. Corning Incorporated finalized a $32 million agreement to make a $315 million investment that would increase production at its Canton facility of specialized glass vital for the semiconductor industry. Edwards Vacuum is nearing completion of a new first-of-its-kind-in-the-country $300+ million dry pump manufacturing facility, supported by an $18 million CHIPS funding award. TTM Technologies, a printed circuit board manufacturer, plans to invest up to $130 million to expand its facilities in Onondaga County, creating up to 400 good-paying jobs, supported by $30 million in federal investment that Schumer delivered. Menlo Micro will invest $150 million to build its microchip switch manufacturing facility in Tompkins County, creating over 100 new, good-paying jobs.

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