Claim Check · Manufacturing
“GlobalFoundries and the Department of Commerce announced a $21 billion investment to build two new semiconductor manufacturing facilities in Malta, New York.”
Verdict: MisleadingPublished automatically from the cited sources below; the editor, Cory Hepler, has not yet reviewed it. Something off? Request a correction →
While GlobalFoundries announced plans for two new chip factories in Malta, New York, the up to $21 billion in financing comes from Japan under a bilateral initiative rather than a Department of Commerce investment.
According to reporting by ABC News and CBS 6 Albany, GlobalFoundries announced plans to build and operate two new semiconductor manufacturing facilities in Malta, New York. However, both outlets report that the up to $21 billion in investment is being financed by Japan under a U.S.-Japan agreement, not by the U.S. Department of Commerce. ABC News also noted that prior federal funding GlobalFoundries received will now be redirected to other areas as a result of the Japanese financing.
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