Feds Steer $1.5 Billion to GlobalFoundries' Plants in Vermont, New York

GlobalFoundries plans to invest millions of dollars in its Essex Junction plant over the next several years, powered by $1.5 billion that the Biden administration awarded the company on Monday.

The federal government will give Vermont's largest private employer $125 million in cash and tax credits to refurbish the company’s large semiconductor plant outside of Burlington, according to Joan Goldstein, commissioner of the state Department of Economic Development. She didn’t release more details about the size of the overall investment or the number of jobs that are expected to be created in Vermont

The bulk of the $1.5 billion will go to...