Editor's note: This story was corrected at 6:15 p.m. on Feb. 21, 2011, to reflect the correct number of jobs that GlobalFoundries has committed to creating at its new facility.
MALTA - Nearly 18 months after U.S. Sen. Charles Schumer helped GlobalFoundries celebrate the groundbreaking of its $4.6 billion computer-chip factory in Malta, he returned to mark the company's next chapter in New York.
Schumer appeared at the company's construction site at the Luther Forest Technology Campus on Monday as officials laid out their plans for a new administration building capable of holding up to 1,500 employees.
The 221,000 square-foot building - equivalent in size to three Walmart Supercenters - represents an investment of at least $20 million by the computer-chip maker, officials said.
"The fact that GlobalFoundries has announced a new administrative building shows us that the dreams we've had for this are going beyond even our wildest expectations," Schumer said after touring the under-construction factory with company officials.
The new building does not alter GlobalFoundries' job-creation commitments to the state, but officials said it could help improve the likelihood of further expansion in New York, where two additional factories could be built.
To date, GlobalFoundries has committed to creating at least 1,200 jobs in exchange for $1.2 billion in cash grants and tax breaks from the state. The company could also access another $15.8 million in state money if it decides to expand its factory, or fab, and commit to creating another 400 jobs.
Mike Russo, GlobalFoundries' director of U.S. government relations, said officials have still not made any decisions about future developments in New York, but he said the new building is designed to allow further growth if and when it's needed.
Only about 450 people will work in the new administrative building when it's finished, despite having room for 1,000 more employees.
The company's administrative staff has to date worked out of a nearby office on Hermes Road in a building at the state-owned Saratoga Technology and Energy Park.
"We want to make sure we don't outgrow our shoes too quickly," Russo said.
Plans call for construction of the new building to begin in May and for work to be finished by August 2012, as the company nears its expected start-up date. More than 1,200 people could be hired and working locally at the company by then, officials said.
Officials in the town of Malta received GlobalFoundries' site plan application for the new three-story building on Friday.
The Malta Planning Board is scheduled to consider the application for the first time on March 15, and company officials hope to have it approved by April.
As it has in the past, GlobalFoundries is expected to approach the Saratoga County Industrial Development Agency about sales tax exemptions for the new building.
The value of those benefits has not yet been calculated because the company doesn't know exactly how much the new building will cost. Based on other office space built in the region, officials believe construction could cost between $20 million and $30 million.