ON Semiconductor Acquiring Hudson Valley Fab Plant in $720M Deal
Phoenix-based ON Semiconductor is expanding its operations in New York state by purchasing and preserving the existing GlobalFoundries Fab 10 manufacturing facility in East Fishkill, NY. The chip manufacturer plans to invest more than $720 million over 10 years in the facility to establish its first 300mm chip manufacturing plant.
The deal encompasses a $100-million initial payment and $330 million in 2022 when ON fully takes over the facility. The expansion will further fuel strategic growth in the areas of power management, including automotive electrification, 5G mobile networks, cloud computing and alternative energy.
ON Semiconductor’s Keith Jackson says, “The increased level of capability and capacity enabled by this expansion is our answer to meet critical market needs.”
Empire State Development will provide up to $17.5 million in grants toward the purchase of the property, facilities and certain manufacturing equipment, and $22.5 million in tax credits tied to investment, new hiring and research and development.
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Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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