ATIC has committed over $10 billion in GLOBALFOUNDRIES, a joint venture between ATIC and California-based Advanced Micro Devices (AMD), since the company’s founding in early 2009. In just a year and a half, GLOBALFOUNDRIES has become a cornerstone of the international semiconductor manufacturing industry, facilitating economic growth and creating jobs in both the U.S. and the U.A.E.

In fact, ATIC has recently announced that GLOBALFOUNDRIES’ “Fab 8”semiconductor manufacturing facility, located in upstate New York’s Saratoga County, is set to begin production in 2012.  The state-of-the-art manufacturing plant is expected to create around 5,000 jobs.

Congressman Scott Murphy, who represents the 20th district of New York, home to “Fab 8”, attended the luncheon and expressed his strong support for Fab 8 and the economic opportunities it will create for U.S. manufacturing and innovation.

“This partnership is currently developing the largest manufacturing project in the U.S. with international investment, which will translate into real jobs for my district,” said Congressman Murphy. “I praise the U.A.E. for its vision and leadership in recognizing the importance of the Fab 8 project.”

In the U.A.E., ATIC recently announced plans to open an R&D manufacturing and education center in Abu Dhabi with the intent to broaden the U.A.E.’s advanced technology educational resources and generate locally-educated advanced technology experts.  The R&D center will feature leading research and academic institutions from the U.S. and the U.A.E.

“The goal of ATIC’s aggressive investment and development program is to build up the local infrastructure and manpower in the U.A.E. while expanding our collaborative efforts with the U.S. advanced technology sector,” Mr. Ajami said. “Our recent announcement of our research and development strategy is strong evidence of our commitment to facilitating the U.A.E.’s effort to become an international authority on advanced technology,” he added.

“The Business Council is proud to have ATIC as one of its Founding Members and we feel strongly that participation by Emirati companies with talented leadership and a focus on diversifying the U.A.E. economy with participation by U.S. companies indicates just how dynamic the commercial relationship between the U.S. and the U.A.E. really is,” said Danny Sebright, President of the U.S.-U.AE. Business Council. “Mr. Ajami’s remarks deepen our understanding of the priority development sectors in the U.A.E. and highlight opportunities for business and cooperation among our members.”