Subsidy Tracker Individual Entry
computer chip plant
The subsidy amount and jobs and investment projections came from: Larry Rulison, "$3.2B AMD Plant Big Lift to Region," Albany Times Union, June 24, 2006.
AMD was originally awarded a $500 million capital grant, a $150 million R&D grant, and Empire Zone tax credits worth $250 million, with the remainder of the package going toward infrastructure improvements. AMD delayed construction and later sold all its chip plants to an Abu Dhabi-based company called Advanced Technology Investment Co., which put the New York project in the hands of a subsidiary called The Foundry Company (later renamed GlobalFoundries). Over time, there were increases in the size of the subsidy package, which GlobalFoundries inherited. In 2011 the total value was put at $1.4 billion (Larry Rulison, "State's Big Payout, Big Risk," Albany Times-Union, October 9, 2011). The main Subsidy Tracker data show two entries totaling $16.2 million for Industrial Development Agency tax breaks for the project.