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$387M in tax exemptions OK'd for $16.8B GlobalFoundries projects

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MALTA — GlobalFoundries will receive about $387 million in sales tax exemptions as incentives to locate a technology research center and a second computer chip factory at its Fab 8 site in Luther Forest. The Saratoga County Industrial Development Agency today approved tax exemptions for both projects, which between them are expected to involve a $16.8 billion investment by GlobalFoundries. The company plans to break ground on its $2.1 billion Technology Development Center this spring, ...

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comments

robbump
March 23, 2013
3:04 p.m.

[ Flag Post ]

#387,000,000 give-back / 3000 jobs = $129,000 per job.
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damn good bit of corporate welfare. And WILL they deliver the 3000 jobs?
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I maintain that the promised "man hours" of the "new jobs" be calculated, and any give-backs be done on a monthly basis instead of these Multi-million gift-boxes.
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I'd bet a LOT of existing employers would create good jobs if someone gave our existing employers a $129k subsidy!

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