AGGRAVATED ASSAULT OF A POLICE
OFFICER.
TONIGHT, WE DELVE INTO OUR
PART TO SPECIAL, "INSIDE
GLOBALFOUNDRIES.
LET'S GO TO JARRED HILL.
IN THE FIRST PART OF OUR
SPECIAL REPORT, "INSIDE
GLOBALFOUNDRIES," WE BROKE DOWN
THAT $1.5 BILLION DEAL TO TAKE
OVER IBM'S CHIP-MAKING BUSINESS,
INCLUDING THE PLANT HERE IN
ESSEX JUNCTION.
TONIGHT WE'RE BRINGING THE STORY
BACK HOME, LOOKING AT WHAT THIS
COULD IMPACT NOT ONLY THE FOLKS
WHO WORK HERE, BUT THE TENS OF
THOUSANDS WHO LIVE IN ESSEX AND
ESSEX JUNCTION.
WE DID NOT BUY THESE ASSETS
TO SHUT THEM DOWN, WE BOUGHT
THEM TO MAKE A PROFIT.
THE ANNOUNCEMENT THAT MOBILE
BOUNDARIES IS NOT SHUTTING THE
DOORS, JURY'S EYE OF RELEASE
--
DREW A SIGH OF RELIEF.
KNOWING THE DEAL HAS BEEN
REACHED.
THE CHANGES ALSO DRIED UP
QUESTIONS ABOUT THE FUTURE OF
HIM AND THE 4000 EMPLOYEES AT
THE VERMONT PLANT.
IN THIS
INDUSTRY, YOU START
TO TALK BEYOND A FOUR OR FIVE
YEAR HORIZON, IT IS SPECULATIVE.
IF THEY ARE GOING TO
BAIL,
YOU CAN SEE THAT.
TECH ANALYSTS
SAY IF THE
BUSINESS IS EXPANDING, THEY'LL
NEED HELP TO GROW.
THE COMPANY'S IMPACT IN OUR AREA
GOES FAR BEYOND THE WALLS OF
THIS PLANT.
IBM HAD ONCE I MADE ABOUT
-- HAD
ONCE MADE UP ABOUT 50% OF THE
ECONOMY.
WE HAVE TO TRY TO CREATE A
BUFFER AND THE LOCAL ECONOMY TO
HAVE THOSE BIG SWINGS THAT HURT
US SO MUCH.
LESS THAN A MONTH AFTER NEWS
OF THE MERGER BROKE
, THE TOWN OF
ESSEX AND THE VILLAGE OF ESSEX
JUNCTION SET OUT TO HASH OUT A
PLAN.
WE HAVE LOOKED AT COMBINING
OUR SERVICES SO WE CAN LOWER
OVERALL COST.
ONE THING TYLER WAS CONCERNED
ABOUT -- IBM HAD PLANNED TO
CREATE AN INDUSTRIAL DEVELOPMENT
ON ABOUT 55 ACRES OF LAND TO TRY
TO GET OTHER BUSINESSES TO COME
IN AND BOLSTER THE ECONOMY.
THE FUTURE OF THAT PROJECT
ADDS
TO A NUMBER OF QUESTIONS ABOUT
HOW THE COMPANY WILL WORK WITH
THE TOWN.
AFTER NEARLY 60 YEARS OF IBM,
VERMONT IS ALSO HOPING
GLOBALFOUNDRIES WILL MAKE THIS
ITS PERMANENT HOME.
WE WANT TO KNOW, ARE THEY
HERE FOR THE LONG HALL?
GOVERNOR SHUMLIN ANNOUNCED A
NEW $4.5 MILLION ENTERPRISE
INVESTMENT FUND TO HELP BRING IN
AND KEEP COMPANIES IN THE GREEN
MOUNTAIN STATE.
WE HAVE BEEN GOOD ABOUT THE
GOING OUT HOW TO DO TAX
INCENTIVES WELL BUT WE FEEL WE
NEED A AND -- WE NEED AN
ADDITIONAL TOLL.
VERMONT MAY NOT NEED AS MUCH
AS NEW YORK TO KEEP GLOBAL
HAPPY.
AS A PRODUCTION FOR THE ESSEX
JUNCTION PLANT IS SMALLER THAN
THE ONE IN
ALSO, THE BIG ASSET
IS INTELLECTUAL PROPERTY -- THE
IDEAS FOR NEW TECHNOLOGY AND THE
PEOPLE WHO COME UP WITH THEM.
HIGHER-PAYING CONDITIONS --
POSITIONS.
THERE IS
NO VALUE FROM MOVING
ONE SET OF FOLKS TO ANOTHER IF
YOU HAVE IT OPEN FOR CENTURIES.
YOU'RE BETTER BUILDING AND
ADDING TO THAT TEAM.
THE QUESTION
LOOMING FOR
ABOUT A SPECIFIC FUTURE MAY
CAUSE ANXIETY FOR SOME BUT THERE
IS HOPE IN THE UNCERTAINTY FOR
NEW GLOBAL EMPLOYEES AND SOUTH
BURLINGTON RESIDENTS.