Capital Region is the 6th Fastest-Growing Metro for Computer & Electronic Product MFG exports
Even before the recent surge in demand that is spurring GLOBALFOUNDRIES to increase its chip production capacities, the Albany-Schenectady-Troy metropolitan statistical area (MSA) was one of the nation’s fastest growing exporters of computer and electronic product manufacturing, according to a Center for Economic Growth (CEG) analysis of data from the International Trade Administration (ITA).
In 2019, the Albany metro area exported $1.46 billion in manufactured computer and electronic products, which include semiconductor devices. That was a 31.9 percent increase from the previous year – the sixth fastest annual growth rate among this sector’s top 50 metro exporters.1 The fastest-growing exporter for this sector was the Albuquerque metro with a 187.4 percent year-over-year increase.
Exports from the Capital Region have been rapidly increasing since GLOBALFOUNDRIES began manufacturing at its Fab8 chip fab in Malta in 2012 and its shift to full production in 2015. Amid surging demand for domestically manufactured chips during the pandemic, GLOBALFOUNDRIES recently entered a strategic partnership with the Department of Defense to produce at Fab8 some of the military’s most sensitive applications for land, air, sea, and space systems. Last year the manufacturer acquired 66 acres adjacent to Fab8 to prepare for a potential expansion of its Malta production operations.
This rapid growth has pushed the Albany-Schenectady-Troy MSA to the top 30 metro for computer and electronic product manufacturing exports, whereas it was ranked in the 60s shortly before Fab8 began production. It is not clear to where those products are being exported, but the Albany metro accounted for 20 percent of New York State’s $7.3 billion in computer and electronic product manufacturing exports in 2019. The top destinations for these New York exports were Germany, Hong Kong, Canada and Mexico.
Even amid COVID-19, CEG has continued its decades-long tradition of supporting the Capital Region’s semiconductor industry. Since 2015, CEG has represented the Capital Region at 27 semiconductor industry events worldwide, including the virtual SEMICON West last summer. CEG has also served as a group sponsor for a new apprenticeship program for more than 50 GlobalFoundries workers and preparing industry attraction marketing materials that highlight the strength and size of the advanced electronics R&D and manufacturing sector.
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