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Ajit Manocha's Speech Welcoming President Obama to the Capital Region

“It is an honor to welcome President Obama, a champion of American innovation, who recognizes the importance of manufacturing, the value of technology, and the critical need to build a skilled workforce, as the cornerstones for staying competitive in the global economy. 

 

President Obama’s visit is another example of his commitment to bringing new manufacturing jobs home to the U.S. Thanks to the President’s leadership, American manufacturing is climbing back, with almost half a million jobs added in the manufacturing sector since 2010. The Administration’s Advanced Manufacturing Partnership and support for the America Invents Act, is moving the country forward.

 

GLOBALFOUNDRIES is proud to be part of this momentum. Our Fab 8 project is the first leading-edge, pure play, semiconductor foundry to be built in the U.S. and is one of the largest new manufacturing projects in the world. It is here that GLOBALFOUNDRIES is working on innovation and advanced technology to create products that change and improve the way we live and work.

 

At GLOBALFOUNDRIES, we continue to invest in R&D which is creating new job opportunities and industries, driving the flywheel of economic growth.  We have seen that Fab 8 is a key driver in the revitalization of Tech Valley – well on its way to becoming the country’s premier nanotech center.

 

Furthermore, by being located right here in the United States, we are helping to protect our homegrown innovations and ensuring the security of our customers’ intellectual property.

 

None of this would have been possible without support from federal, state and local governments, the State University of New York, community colleges, and the larger business community.  Public-private partnerships supporting advanced manufacturing and research are invaluable to advancing the nation’s economy.  We are so proud to be a part of this success.

 

Because of the success of this partnership, Fab 8 is expected to be the most advanced semiconductor fab in the world, creating more than 1,600 new direct jobs and approximately 8,000 additional new indirect jobs, representing an annual payroll of over $300 million.

 

And we are proud that veterans make up approximately 10 percent of Fab 8’s current workforce. Our recently announced ‘Field to Fab’ initiative will continue to find great new careers in advanced manufacturing for our veterans returning from the field of military operations.

 

We are also working with community colleges and high schools to provide skills for those looking for a new career path. Together with regional partners and the Center for Economic Growth we are launching a 13-county education initiative to add new programs to the education system, supporting the growth and opportunities we see here in Tech Valley, bringing it all full circle.

 

And the Capital Region is now a hub for the technology industry, attracting global firms, vendors, suppliers, start-ups, and new research facilities. These are truly exciting times.

 

GLOBALFOUNDRIES is proof that new manufacturing jobs can be created here and that the American innovation engine is alive and well. 

 

Thank you, President Obama, for your leadership and your continuous support of economic growth, innovation, and technology leadership. It is a special day in Tech Valley and we are honored to have you here."

 

- Ajit Manocha, CEO, GLOBALFOUNDRIES.