Press Release

Welch Celebrates New Funding for Vermont’s GlobalFoundries from Biden-Harris Administration and CHIPS and Science Act

Feb 19, 2024

Funding will revitalize fabrication facility in Burlington and create jobs in Vermont, bolster competitiveness

BURLINGTON, VT — Sen. Peter Welch (D-Vt.), a member of the Senate Commerce Committee, today applauded the Biden-Harris Administration’s announcement that the Department of Commerce and GlobalFoundries (GF) have signed a non-binding preliminary memorandum of terms (PMT) providing GF approximately $1.5 billion in funds from the bipartisan CHIPS and Science Act, which Sen. Welch helped pass as a member of the House. The funds will expand capacity and create jobs across three projects at GF, including the revitalization of the Burlington fabrication facility, a leader in creating next-generation Gallium Nitride on Silicon for national security and consumer uses including electric vehicles, the power grid, 5G and 6G smartphones and more.

Sen. Welch released the following statement:

“GlobalFoundries has been a national leader in semiconductor and chips innovation, putting Vermont at the forefront of this emerging technology. This is a well-deserved recognition of GlobalFoundries’ commitment to bolstering the on-shore growth of U.S.-made chips,” said Sen. Welch. “This investment, made possible by the CHIPS and Science Act and the White House and Secretary Raimondo’s commitment to competitiveness and security, will create jobs while making our supply chains more resilient. Even more impressive, this new site will see its commitment to sustainability through with a plan to use carbon-free neutral energy practices —leading in innovation and in action.”

Read more about the announcement here.

Read the announcement from NIST’s Chips for America office here.

In his role on the Senate Commerce Committee, Sen. Welch has pushed for more support semiconductor innovation in rural areas. 

The CHIPS and Science Act includes landmark investments to support domestic semiconductor and chip manufacturing research and development; bolster the STEM workforce; strengthen our 21st century security, tech defense, and wireless supply chains; and advance innovation in the advanced manufacturing industry. For more information on the CHIPS and Science Act and the CHIPS for America program, please click here.