Zack Hutchins
Director of Communications

For Release — October 7, 2008

Business Council welcomes The Foundry Company manufacturing facility

ALBANY— “The news today from AMD and the Advanced Technology Company of Abu Dhabi that they are joining to create the The Foundry Company and move ahead with construction of a state-of-the-art semiconductor manufacturing facility in Saratoga County is welcome news for the Capital Region and New York State,” said Kenneth Adams, president and CEO of The Business Council of New York State.

“This new company is ready to move forward with the construction of the manufacturing facility that will boost the upstate economy. New York state needs to support this project to create new, high-skilled, high-wage jobs,” said Adams.

“The state and regional economies need the more than 1,400 jobs that this project can create. These will be jobs that will allow many graduates of New York universities and colleges to pursue their career here rather than leaving the state in search of opportunity,” added Adams.

“With the crisis in the financial services industry that we are now confronted with, New York must re-tool its economy. This project will build on the innovation economy that is developing in New York,” said Adams. “The fact that it is part of the IBM joint development alliance means the positive impact of this project will be felt throughout the state's economy.”