President Trump has unveiled a plan to build two semiconductor plants in New York State with investment funding from Japan. The investment could total up to $21 billion, with GlobalFoundries responsible for operations. The plants are targeted to begin operating in early 2029.
President Donald Trump has announced plans to build two new semiconductor plants in Malta, New York, using $21 billion in investment funding provided by Japan. GlobalFoundries will operate the plants, which are positioned as part of the investment framework agreed in US-Japan tariff negotiations.
The investment is expected to generate around 27,000 construction and supply-chain jobs and more than 1,000 highly skilled manufacturing jobs. The Department of Commerce has also announced plans to secure additional equity interests and related investments, and the total investment is expected to increase.
The plants will be built at the Malta production complex. The first plant is expected to have annual production capacity of approximately 900,000 12-inch wafers. An additional investment of around $10 billion in a second plant is envisaged in the future, with the two plants targeted to achieve combined annual production capacity of approximately 1.8 million wafers.
GlobalFoundries has pledged to give priority supply to Japanese companies and expects Renesas Electronics and Apple, among others, to be initial customers. The US government's plan to increase its equity interest is also expected to proceed, drawing attention as a new development in industrial investment between the US and Japan.