Following a revenue miss in Q1 and just announced job cuts, AMD is expected to provide further guidance on how it will proceed with its plans to build its Luther Forest fab. While there has been no clarity on whether AMD in fact will begin with the construction this summer, we learned today that at least the government is proceeding under the assumption that no changes to the construction plans have been made.
According to the Business Review, the town board of Malta, NY, has approved a $33.05 million bid to build 5.5 miles roads on and to the planned Luther Forest campus. The fab is expected to cost about $3.2 billion and become fully operational between 2012 and 2014. AMD must commit by July 2009 to receive $900 million in state tax subsidies, grants as well as another $300 million the local government expects to spend on infrastructure improvements.