A new partnership will solidify the position of two New York corporations on the map of national security and aerospace technology.

“Two titans of upstate New York industry are coming together,” Senate Majority Leader Chuck Schumer said Monday.

The senator came to Malta in Saratoga County on Monday to announce a new partnership between GlobalFoundries and Lockheed Martin. The announcement is the latest in an aggressive push for more semiconductor production in the Empire State.

“To ensure more of the chips that are used in our most sensitive military technology are made right here,” Schumer said.

The senator called it a victory for the CHIPS and Science Act, which was signed into law last summer. The allocation of about $280 billion in federal funding is being used to promote domestic research and the manufacturing of semiconductors.

What You Need To Know

  • GlobalFoundries and Lockheed Martin are partnering to establish a strategic supply of semiconductor chips to the U.S. military and allied nations

  • Roughly 75% of global semiconductor production occurs in East Asia

  • U.S. Sen. Chuck Schumer called it a victory of the CHIPS and Science Act signed into law last summer

“We’ve had leadership in semiconductor demand and semiconductor design,” said GlobalFoundries President and CEO Thomas Caulfield. “Now, we’re going to have it in manufacturing.”

According to Schumer’s office, roughly 75% of global semiconductor production occurs in East Asia. But the new partnership will establish a strategic supply of chips from GlobalFoundries to Lockheed Martin, a prominent supplier to the U.S. military and allied nations.

“This partnership is also going to deliver on the critical need that we have to make sure that we can deter aggression in the future,” Lockheed Martin Chairman, President and CEO Jim Taiclet said. “Because if we don’t have the most high-performing platforms at enough scale, we don’t want to see another Ukraine happen in our lifetimes.”

Schumer said it was a win-win, and he hopes it work will help retain folks and attract new New Yorkers.

“People know what beautiful life it is up here in upstate New York,” he said. “But if you can’t find a good-paying job, you ain’t staying. And so now that’s reversed.”

Monday marked a busy day in the Capital Region for the senator. Schumer also visited Albany Nanotech to announce the creation of a career opportunity hub to assist in bolstering the tech workforce that will help support the push for more semiconductor manufacturing in New York.