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GlobalFoundries Expected to Have Big Impact on Local Businesses
July 20, 2010 -- YNN (Your News Now)
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MALTA, N.Y. -- The GlobalFoundries move to Malta will have a big impact on other businesses all across the Capital Region, and business leaders want to make sure they're prepared.
The downtown Albany BID and the Center for Economic Growth held a forum Tuesday morning to provide an opportunity for downtown businesses and organizations to get more involved in what's taking place across the region. They say it's not just the GlobalFoundries project 30 miles north but other development projects coming to the area that business leaders need to be ready for.
Senior VP Center for Economic Growth Brian Hannafin said, "The General Electrics, IBM, they are all investing and pushing projects forward, but from a GlobalFoundries standpoint, yes, the timing is very good. They're on time, on budget, on schedule. We're already starting discussions with many of the suppliers who will be working and providing toolsets for the facility."
Hannafin also said it's likely that 50 to 60 companies will be moving from around the world to the region to help with GlobalFoundries, which could mean a boost in the state's economy.
