Global Trade Alert
Global Trade Alert

United States of America (New York): Government provides several forms of state aid to GlobalFoundries

Announcement

19 Feb 2024

In February 2024, the government of the state of New York announced several forms of state aid to GlobalFoundries. 

Source

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Number of interventions

4

4 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

19 Feb 2024

Revocation date:

No revocation date

Announced: 19 Feb 2024
Local value added incentive In force
On 19 February 2024, the government of the state of New York announced a state aid package to support GlobalFoundries' semiconductor manufacturing facility. As part of the broader state aid agreement ...
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Announced: 19 Feb 2024
In-kind grant In force
On 19 February 2024, the government of the state of New York announced USD 15 million to finance the "workforce development activities" to support GlobalFoundries' semiconductor manufacturing facility...
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Announced: 19 Feb 2024
In-kind grant In force
On 19 February 2024, the government of the state of New York announced USD 30 million in "infrastructure investments" to support GlobalFoundries' semiconductor manufacturing facility. The government d...
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Implementation date

19 Feb 2024

Revocation date:

19 Feb 2034

Announced: 19 Feb 2024
Tax or social insurance relief In force
On 19 February 2024, the government of the state of New York announced USD 575 million in Green CHIPS tax credits to GlobalFoundries. The funding will support the company's semiconductor manufacturing...
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