Hunton Andrews Kurth LLP represented the CHIPS Program Office of the U.S. Department of Commerce in connection with its $1.5 billion direct funding award to GlobalFoundries under the CHIPS Incentive Program’s Funding Opportunity for Commercial Fabrication Facilities.

The award will support the company’s investment of approximately $13 billion over the next 10-plus years in its U.S. semiconductor manufacturing capacity, including the construction of a new state-of-the-art semiconductor manufacturing facility in New York, the expansion of the capacity and modernization of an existing facility in New York, and the modernization of the company’s operations in Vermont.  These facilities will produce essential automotive, smart mobile, aerospace and defense, and communications semiconductor technologies.

The Hunton Andrews Kurth finance team advising the CHIPS Program Office included Partner Ben Cooper and Associates Andrew Blasio, Chloe Kwon, Gustavo Rodriguez-Villate, and Will Cox. Partner Tyler Maddry and Counsel Steve Wood provided intellectual property advice, Partner J.C. Chenault and Associate Matt Chriss provided real estate advice, and Counsel Carter Clements provided environmental advice.