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2009 EDC ANNUAL LUNCHEON:
LOOKING FORWARD, LOOKING BACK
Keynote Address: GLOBALFOUNDRIES News on Future Jobs and Technology
 EDC held its annual luncheon on Friday, May 1, at Great Escape Lodge in Queensbury, with approximately 250 business, government, and education leaders in attendance (see lunch photos). During the keynote presentation, Terence A. Caudell, the Director of Wafer Manufacturing and the Fab 2 Project Manager for GLOBALFOUNDRIES, and Travis Bullard, the company’s Public Affairs and Communications Manager, shared information about the GLOBALFOUNDRIES chip fab plant under construction in nearby Malta and Stillwater (Saratoga County).
 GLOBALFOUNDRIES was formed in March 2009 by a joint venture between AMD and the Advanced Technology Investment Company. The company is the only U.S. based global semiconductor foundry, employing approximately 2,800 people worldwide.
In Saratoga County, GLOBALFOUNDRIES is beginning site clearing and will commence construction this summer for Fab 2, its new state-of-the-art, $4.2 billion manufacturing facility at the Luther Forest Technology Campus. In preparing the site and building the facilities over the next few years, local construction expenditures are estimated at $800 million, supporting about 1600 jobs.
Once operational in 2012, Fab 2 will be the only independently-managed, advanced semiconductor manufacturing foundry in the United States. Fab 2 is expected to create approximately 1,400 new direct jobs and more than 5,000 indirect jobs in the region. The estimated total payroll for both direct and indirect jobs is $290 million per year.
EDC Celebrates 10th Anniversary in 2009
Annual Luncheon attendees
 learned about EDC’s first 10 years of operation in Warren County through speakers and project photos. Current EDC chairman John Davidson (Vice President of Jointa Galusha) and EDC Board Secretary Mark Behan (President of Behan Communications) reviewed some of EDC’s accomplishments in the past decade, including the development of the 56-acre Queensbury Business Park; the revitalization of downtown Glens Falls; the development of the I-87 Exit 18 corridor; the support of tourism projects throughout the region, including the North Creek Ski Bowl and Gore Mountain Interconnect; and the successful delivery of Empire Zone services since 2002.
EDC Thanks Business Sponsors for Record-Level Support
EDC thanks the local business
 community for supporting its Annual Luncheon. A total of 27 companies sponsored the event:
Gold Sponsors: The Adirondack Trust Company, Aeon Nexus Corporation, Ames Goldsmith, B.A. Construction Services, BBL Development Group, Behan Communications, Inc., Center for Economic Growth, Cool Insuring Agency, Inc., Finch Paper, Glen Street Associates, Glens Falls National Bank & Trust Co., Hampton Inn & Suites, Harris Beach PLLC, Jointa Galusha, The LA Group, Lemery Greisler, The Michaels Group, National Grid, TD Banknorth.
Silver Sponsors: The Barton Group, The Chazen Companies, Clough Harbour & Associates LLP, Keena Staffing, Inc., NBT Bank, Olympic Regional Development Authority, Peckham Industries, and VMJR Properties.
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