“REVITALIZE the American Industrial Base” – President Trump Announces $21 Billion Investment In Blue State

President Trump on Wednesday announced a massive $21 billion investment to build semiconductor manufacturing facilities in New York.

“Today, under my leadership, GlobalFoundries and my Department of Commerce led by Secretary Howard Lutnick announced a MASSIVE 21 BILLION INVESTMENT to build 2 giant new Semiconductor Manufacturing Facilities in Malta, New York. This DEAL will create 27,000 high paying Construction and Supply Chain Jobs and over 1,000 additional highly skilled Manufacturing Jobs in New York,” Trump wrote on Truth Social.

“Under my direction, JAPAN WILL PROVIDE THE CAPITAL for the 21 Billion Dollar Investment. This DEAL is a result of my HISTORIC TRADE DEALS to REVITALIZE the American Industrial Base, create HUNDREDS OF THOUSANDS OF GREAT AMERICAN JOBS, and strengthen our National and Economic Security. We are turning the Investment commitments from Japan, Korea and Taiwan into HUGE Construction Projects. These are TRANSFORMATIONAL AND GENERATIONAL DEALS FOR AMERICA — More Semiconductors, more Power, more Energy Security, and more Jobs for the U.S.A,” he continued.

“As I showed with our massive WIN with INTEL, my Administration’s Commerce Department is the first to ever earn money for America. I am announcing an additional agreement with GlobalFoundries where the U.S. Taxpayer will receive shares in GlobalFoundries. My Commerce Department will invest 955 Million Dollars in Silicon Photonics, Silicon Germanium, and Advanced Packaging. This brings our total Investments to 1.63 Billion Dollars, and now, the U.S. Government’s stake is worth over 2 Billion Dollars. We are the first Administration ever to turn Grants into money for America. Your great Businessman President running the Greatest Economy in the World — AN ALL-AROUND HUGE WIN FOR AMERICA!” he added.

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WRGB has more:

GlobalFoundries (Nasdaq: GFS) announced Oct. 14, 2026, that it will serve as the technology provider and operator for the two new semiconductor manufacturing facilities, or fabs, in Malta, New York. The initiative is enabled by President Donald J. Trump’s trade and investment agreement with Japan and is aimed at accelerating trusted semiconductor manufacturing in the United States, strengthening critical supply chains and supporting demand across automotive, industrial and connected infrastructure markets.

Japan will provide the investment, while GlobalFoundries will contribute its technologies, manufacturing expertise and operational capabilities.

The plan includes an initial investment of about $10 billion to accelerate construction of a new 300mm semiconductor fab expected to come online in 2029. An additional investment of about $10 billion would fund a second fab. When fully operational, the first fab is expected to add about 900,000 300mm wafers of annual U.S. manufacturing capacity, with the second fab projected to add about the same amount.

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“This is a bold new initiative for semiconductor manufacturing, bringing together the United States and Japan with GF’s differentiated technology and decades of manufacturing expertise to accelerate trusted capacity in New York,” GlobalFoundries CEO Tim Breen said.

“GF was selected because fabs of this scale require more than capital. They require differentiated technology, operational excellence and a proven ability to execute. That combination is what positions GF to make this first-of-its-kind initiative a success,” he added.

“Commerce is also redirecting up to $955 million in existing CHIPS funding to bring critical chip production back to America and reduce our reliance on foreign manufacturers,” the U.S. Department of Commerce stated.

“This is President Trump’s trade agenda in action,” it added.

As a direct result of President Trump’s U.S.-Japan trade deal, Japan will provide up to $21 BILLION to build two new semiconductor factories in upstate New York.

GlobalFoundries will operate the two factories, which will create tens of thousands of high-paying American…

— U.S. Department of Commerce (@CommerceGov) October 14, 2026

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Manufacturing Dive noted:

The news comes as GlobalFoundries has seen strong revenue performance, driven in part by 60% year-over-year growth in the communications infrastructure and data center end markets.

The company also has partnered with Japan-based chipmaker Renesas Electronics Corp. as demand grows for smart vehicles and automated industrial systems. Renesas is looking at GlobalFoundries’ expanded capacity in New York as an extension of its own production footprint, CEO Hidetoshi Shibata said in a statement.

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