MALTA – Computer chip manufacturer GlobalFoundries is moving its worldwide corporate headquarters from Silicon Valley to Malta, and continues to consider expanding with construction of a second chip plant in Malta, corporate officials said Monday.
Speaking at an announcement made with U.S. Senate Majority Leader Charles E. Schumer, GlobalFoundries CEO Tom Caulfield said it makes sense to relocate the headquarters from Santa Clara, Calif., to Malta, where its Fab 8 is among the most advanced chipmaking plants in the world.
“It makes sense to move our corporate headquarters to where the center of our manufacturing is,” Caulfield said at an indoor event in front of the sprawling $15 billion manufacturing facility, where about 3,000 people work.
About 70 percent of the corporate functions like procurement, finances and sales already are in Malta, but the cross-country move will still mean dozens of new high-level leadership jobs coming to Malta. The change is effective immediately. “We reached a tipping point where it made sense to come here,” Caulfield said.
“This is a huge shot in the arm for the Capital Region economy,” Schumer said. “Tom has agreed there is no better place than here for the corporate headquarters.”
New York’s senior senator also used the event to tout his new Endless Frontiers Act, which would authorize up to $50 billion to encourage chipmakers to develop facilities in the United States, and other bills intended to encourage U.S. chip manufacturing. “This is bipartisan legislation,” Schumer said. “It has a very, very strong chance of passing.”
If the legislation is passed by Congress and signed by President Joseph Biden, Caulfield said GlobalFoundries is ready to invest more money upstate, possibly including the much-anticipated second plant — Fab 8.2 — in Malta. He spoke in support of Schumer’s proposed incentive bill.
“It’s about industrial policy,” said Caulfield, who was the vice-president and general manager of Fab 8 before being promoted to his current role. “It has to not just be consistent, but to be competitive globally.”
While the corporate relocation won’t involve any additional capital spending, GlobalFoundries already has plans to invest an additional $500 million in equipment and other upgrades at Fab. 8, as it and other chipmakers seek to address a critical world-wide chip shortage.