The Impact of Global Foundries Brings Thousands of Jobs to Saratoga County- Malta NY
What is Global Foundries?
Global Foundries is the leading edge company the manufactures technology chips. No this is not like a potato chip. A technology chip is a small semi-conductor (unique material where electrical conductivity is held) that is used to relay information through a specific electrical characteristics.
IN OTHER WORDS:
A technology chip transfers information through a device telling it what to do. It is found in many electrical devices we use on a everyday basis such as a cell phone, computer, and microwave. You may recognize the name brand "Intel" from your computer this runs on the same idea.
Global Foundries Bringing in Jobs
It has been a while since we heard the words "help wanted" in this country. With the National Un-Employment Rate still high this brings relief to Saratoga County.
Global Foundrieswill bring in 1,400 direct jobs to Saratoga County and it is expected to bring in an additional 5,000 jobs to the area.
M&W US Inc., announced in February, is relocating to Waterviliet Arsenal and the University of Albany College Nanoscale Science and Engineering. M&W US In is currently working on building Global Foundries.
The NYS Labor Department Contributes $150,000 to Fund Work Projects at Global Foundries
The NYS Labor Department announced on March 3 they would contribute a total of $150,000 in three grants.
One grant will be for $25,000 to work with private sector employers to assess and help meet the current and future of the needs of the work force.
Another grant of $25,000 will be used to create a regionwide career readiness program to help handle the higher number of jobs expected to come to the area.
The remaining $100,000 will be used to educate students, parents, and educators of the technical careers to be available in the coming years.
The closing rate has gone up 2.3% since January. Currently 103 homes have sold in Saratoga County. The median home price has raised 13.3% to $255,000. It is a excellent time to buy with many incentives such as low mortgage rates and the First Time Home buyer/ Moving up tax credit.
If you would like more information Contact a Real Estate Agent.
518-587-5600 ext 142