LOOK... it's TouristSenator!!!
It shows up in more places than TouristGuy did only with less style and substance...
she's Vaporware, just an empty crusty.
(Please spread me around like the parasite that i am...)
Posted on 06/24/2006 5:33:13 AM PDT by Renkluaf
SAN FRANCISCO -- Advanced Micro Devices Inc. confirmed that it has selected a site in upstate New York as the likely location for a $3.2 billion chip factory, though plans to build the plant are not definite.
AMD, of Sunnyvale, Calif., now makes all its microprocessors in Dresden, Germany, and hasn't built a new U.S. factory since the late 1990s. Under a non-binding deal with New York officials, the company expects to receive about $900 million in cash incentives from the state, out of total subsidies estimated at $1.2 billion, said Preston Snuggs, AMD's vice president of logic operations.
Depending on demand for chips and other factors, construction could start between mid-2007 and mid-2009, with the first output from the plant expected about 2010, Mr. Snuggs said. The plant, near Saratoga Springs, N.Y., is expected to create 1,200 new jobs, AMD said.
(Excerpt) Read more at online.wsj.com ...
Chip plants are staffed with low or no-skill workers. These people aren't designing anything. They are just keeping the stamping machines oiled.
Not at all. It is providing an incentive to one and only one company. If the overall tax rates were lower then more companies would want to be in business there and politicians would not have to buy jobs. You would have a more diverse base of companies and not be dependent on a company that had to be bribed to move there.
Here is a question for you. The minute the subsidies run out and the company is scheduled to pay taxes, what do you think will happen? Will they happily start paying them or will they threaten to move to Virginia?
But isn't this to be in Saratoga County?
Chucky Schumer will beat her to it. (claim credit)
Yes, but the ripple effect will expand over at least 9 counties.
Give me a billion dollars and I'll create 1200 jobs! I'll create 1201 jobs!
"Give me a billion dollars and I'll create 1200 jobs! I'll create 1201 jobs!"
Give NY or Michigan a "Right to Work" state status and either one would create 1,200,000 jobs almost overnight, without spending one dime of Gov. money!
Industry wants to build where there are skilled industrial workers, the Unions ran them off.
Granting tax waivers is not anything new to attract business and I would prefer a overall low or no rate so that is not needed but that is not how it is.
It does point out the foolishness of lib think though.
Business is evil so it must be taxed,When taxed beyond profitability business ceases.
Without business,tax revenue falls so than must give tax breaks to attract business.
God,people here had a fit over the "strip mall" look of a Dunkin Donughts and stopped a Pizza Hut for the same reasoning.
Jobs and job competition gone as well as a source of sales tax revenue for the county.
"the new job pool will be closer to 3500-4000 jobs"
____________________________________________________
[Maybe some of the story below is in the WSJ, but I am not going to register to read the link, so for those like me:]
Closer to ..... one chip fab in Malta could create 6,000 to 10,000 new jobs for the region. These would include not only AMD jobs and construction jobs but also positions created by vendors and service firms that need to be near the semiconductor giant as well as related businesses.
..similar economic development activity has taken place in cities like Austin, Texas, and Dresden, Germany, where AMD already has a presence.
"Take a look at any place in the world that hosts this industry," Lovell said. "When this deal is done, it will happen here. The payoff is literally decades of economic growth that comes from this."
Austin knows about this benefit. The city is home to eight chip fabs, and Samsung Electronics Co. Ltd. is in the process of building a ninth fab in the city with an estimated price tag of $3.5 billion to $4 billion, said Dave Porter, senior vice president of economic development for the Greater Austin Chamber of Commerce.
"It's been essential," Porter said of landing the fabs. "Austin is one of the few semiconductor hubs in the U.S."
New York state competed with Austin for the new Samsung plant, which will use a new manufacturing process that creates computer chips on 300-millimeter -- or 12-inch -- silicon wafers. The industry is moving to the 300mm process from a 200mm process because it is more efficient. The new AMD plant would be a 300mm plant.
Porter said Texas and Austin offered Samsung an incentive package valued at $230 million, but he cautioned not to compare it to New York's incentives because Texas does not have a corporate income tax.
The Perryman Group of Waco, Texas, published a study in May 2005 that said Samsung's new Austin plant, which would employ 700 people, would create a total of 2,834 permanent jobs in Austin and raise the personal income level in the city by $155 million a year. The impact on the entire state would be a total of 3,356 permanent jobs created and $180 million in personal income a year.
The economic ripple effect of a chip fab occurs because the factories are so capital-intensive, said Michael Fancher, director of economic outreach for Albany NanoTech, the University at Albany's $3 billion nanotechnology research and development center, which is working on making computer chips faster and smaller.
Chip fabs use multimillion-dollar tools to make computer chips, and manufacturers need their tool suppliers nearby to fix and service the devices. They also need quick responses from other vendors and service companies, which is why places like Silicon Valley in California and Austin create clusters of industry activity that go beyond just the chip fabs themselves.
"Proximity is so important for them," Fancher said, talking generally about the industry. "They need everyone to be close because time is money."
The addition of AMD to the corporate landscape of the Capital Region also is expected to increase the flow of venture capital. Venture capital -- seed money used to fund early-stage companies -- is considered an essential part of developing a technology industry, which has high costs and high risk.
Bela Musits, managing director of High Peaks Venture Partners in Troy, which has $50 million under management, said there has been a "critical mass" developing in the Capital Region. He cited recent announcements by Xerox Corp. and Royal Philips Electronics NV for acquisitions in the region, which has been best known for its academic research and development activity.
The addition of AMD would add to that corporate prestige and likely attract more venture funding to an area. "I think all of those things are good indicators for having a vibrant business community," Musits said. "Those are all good things."
AMD, based in Sunnyvale, Calif., is considering two possible locations for the plant: One in a technology park about 25 miles north of Albany and the other on an 800-acre site in the central New York town of Marcy the state purchased 25 years ago.
If any state is trying to attract business, NanoTech is the way to go!! Embrace it. Usually I agree with the Who Pays? scenario when it comes to TIF's, but if any state is trying to attract business, “Nanotech is a cutting edge technology - the way to go!! Embrace it and Invest in it! Already $10 billion has been invested in this growing New York's Tech Valley which earlier this year which I believe welcomed Applied Nanoworks. Certainly Hillary was quick also to take credit for this job creation as well. It's what politicians do, so nothing new here! She had promised jobs during her campaign in the sluggish economy in Upstate NY so needed her name out there.
Source from Albany Nanotech
http://www.albanynanotech.org/news/index.cfm?step=show_detail&NewsID=483
construction could start between mid-2007 and mid-2009,
Translation from Clintonese: Right now, AMD sort of is thinking of maybe building a plant upstate, so re-elect me Senator in 2006.
Then, when the Presidential primaries start, AMD'll put out another press release with more indefinate start up dates so that I, Queen Hillary look presidential. Of course, the plant will be built in Malasia or Qiuanjou or somewhere else, but by then.....
They will probably end up being jobs Americans don't want to do, anyway. More $ saved./sarc
AMD CEO Hector de Jesus Ruiz, the one-worlder who claims the USA is losing its competitive advantage and decries the ecucation system in the US (an excuse he uses to hire cheap foreign technicians for plants in German and the USA), was under pressure to quit bellyaching about the USA and do something for the USA. Being a smart guy and using the Silican Valley schtick, he courts one half the political picture and tells Hillary he will build in Upstate New York. Now, given the taxation policies that exist in New York, why would anyone build a plant there, even if the subsidies were enormous? I wonder if AMD shareholders gived a damn?
I'm thinking this might be a good time to invest in Intel.
As if that's a bad thing?
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