AMD Signs Grant Disbursement Agreement for New Fab Option
—Agreement marks progress towards new state of the art 300mm wafer fabrication facility at
Luther Forest—
Sunnyvale, Calif. — Dec. 22, 2006 — AMD
(NYSE: AMD) today announced it has signed a
Grant Disbursement Agreement (GDA) with the
State of New York, establishing a two-year
window from July 2007 to July 2009 in which AMD can
choose to initiate the building of a new state
of the art 300mm wafer fabrication facility in Saratoga County, NY. AMD’s execution of the agreement
comes after New York’s Public Authorities Control Board (PACB) voted on Wednesday to approve a $650 million grant for AMD.
AMD anticipates the need for a new facility and
has selected the Luther Forest Technology
Campus as
an ideal site. The timing of the final decision
depends on a number of factors, including future market demand, but with a growing
customer base, leading technology and the hope
for a truly fair and open competitive playing field, AMD remains optimistic about prospects for continued momentum in the years ahead.
If conditions become right for AMD to move
forward, construction would begin sometime between July 2007 and July 2009. Similar to AMD’s other fabrication facilities, construction of the building is expected to take about a year with another year needed for the installation of equipment and tools. The project has the
potential to directly create approximately 1,200
new jobs, along with
thousands of indirect jobs through supporting construction and infrastructure projects.
"This is the best Christmas present that
New Yorkers could have ever wished for," Jack Kelley, SEDC Senior VP said. "This is the beginning
of thousands of good paying jobs for our young people. The development of the Luther Forest Technology Campus and the attraction of AMD has been a team effort on the part of Governor Pataki, Senator Bruno, Congressman Sweeney, Saratoga County public officials, Malta and Stillwater government leaders and the National Grid Power Corporation." Kelley added "We are looking
forward to the New Year to start working on this project."
About AMD AMD (NYSE:AMD) designs and
produces innovative microprocessors, Flash
memory devices and low-power processor
solutions for the
computer, communications and consumer
electronics industries. AMD is dedicated
to
delivering standards-based, customer-focused solutions for technology users, ranging from enterprises and governments to individual consumers. For more information visit
www.amd.com.
Cautionary Statement: This release contains
forward-looking statements regarding AMD’s
potential new 300mm wafer fabrication facility in
New York, construction timelines and future
market demand, which are made pursuant to the
safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are
cautioned that forward-looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from the company’s
current expectations. Risks include the possibility that the company will not achieve its current
product introduction schedule and that customer adoption and infrastructure support of
AMD’s products will not occur as expected. We urge investors to review in detail the risks and uncertainties in the company’s Securities and Exchange Commission filings, including but not
limited to the Annual Report on Form 10-K for the
year ended December 25, 2005 and AMD’s
quarterly report on Form 10-Q for the quarter
ended October 1, 2006
Source: Saratoga Economic Development Corp. E-Publication "Job Update"
