Guaranteed Job Market in Malta with Global Foundries Moving In- Malta, NY
Everyone has once heard there are no guarantees in life. How would you like a guarantee in today's job market. Today unemployment is still a main concern for the United States.
The month of February the unemployment rate in the United States held at 9.7% which is equals to 14.9 Americans. Many have attributed the job market remaining low on the severe winter weather in February.
Bloomberg still doesn't have a good outlook for today's economy. Ben Bernanke, The Federal Reserve Chairman, reported "If we achieve nothing else in the wake of the crisis, we must ensure that we will never again face such a situation."
Saratoga County is one step ahead of the game with the job market.. Many of us have all heard Global Foundries formally known as AMD will be moving in the Luther Forest Technology Campus in Malta NY.
Global Foundries is the leading edge in Fab 2 plant. A Fab 2 plant is a semi conductor manufacturing plant. You may have heard of the Intel it is basically the same concept. You can find semi conductors in computer chips and other electronic devices.
How Will Global Foundries Effect Today's Job Market?
Global Foundries has promised to produce 1400 direct high paying positions to Malta, along with 5,000 other jobs indirectly. New York State has provided the plant with $1.3 billion in incentives.
Global Foundries on the other hand has just signed a contract with New York State to provide $100 million if they don't produce the jobs promised. Within the terms of the contract Global Foundries must employ 1,205 employees by 2014 and maintain at least 85% of the employee number for the next seven years. How is that for a guarantee in today's job market.
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