Obama to visit Capital Region

Local news organizations throughout the Capital Region have confirmed that President Barack Obama will be stopping at Hudson Valley Community College in Troy, NY, on Monday to discuss growing technology in the area and the new Global Foundries computer chip plant that is currently under construction at the Luther Forest Technology Campus in Malta.

Rumors had been swirling over the past week about a possible visit by President Obama to the Malta campus in order to discuss one of the few feel good stories concerning future job growth in an area of the country where unemployment rates threaten working families.

The project was green lighted earlier this year after three years of speculation and doubt over whether or not the company, Advanced Micro Devices, would actually build at the site - even after they were promised billions of dollars in tax incentives by State officials. But even with the incentives, Advanced Micro Devices, which was originally supposed to build at the site before it merged with an Adubi company, The Foundry, to form Global Foundries, was looking as though they would be lucky to stay in business for the next year let alone commit to building a multi-billion dollar computer chip plant in Malta. But alas company officials formed Global Foundries and committed to the region by purchasing 220-acres of land at the technology campus in order to build the $4.2 billion dollar facility.

The project is expected to create approximately 1,400 new manufacturing jobs, with an estimated payroll of more than $88 million. It is also expected that the project will create an additional 5,000 new, indirect jobs in the region, with an estimated payroll of $290 million per year.

Construction of the facility is expected to create approximately 1,600 new construction jobs, plus an additional 2,700 jobs that will be created due to future growth, so it is no wonder why with unemployment numbers continuing to rise, Obama is taking the time to visit the region to highlight this type of future growth to the rest of the nation.

Obama will arrive at Albany International Airport on Monday before heading to a global conference at the United Nations in New York City. The visit was originally intended to be held at the Luther Forest Campus, but has been moved to HVCC due to its close proximity to Albany Airport. Obama is expected to arrive at HVCC around 11 a.m. on Monday. If all goes well I should be there in person with a full report on what the President had to say later that day.