Yet another high tech expansion in the Capital Region. GlobalFoundries has announced a plan to bring 1,000 jobs to Saratoga County. Erin Vannella has more.

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SARATOGA COUNTY, N.Y. -- A major expansion is set for the GlobalFoundries campus in Malta. The company is planning a $2 billion expansion project, which is expected to bring about a thousand new jobs.

Governor Andrew Cuomo announced the growth at the Saratoga County campus ahead of his State of the State Address.

Local leaders say projects like this are a great way to help convince people and businesses to move into the area. And educators are happy too. They say having a facility that offers high-tech jobs, helps convince students to chose a tech career.

“The area is going to grow and it's going to be good jobs. It's going to be a chance for students to stay home and work here instead of leaving the area. And that's kind of what Hudson Valley is about. Our alumni typically stay in the area, so the more jobs that are here, the better off it is,” said Phil White, Dean for Business, Engineering and Industrial Technology at Tec Smart.

The new tech development center will include 90,000 feet of clean room space.

Construction is set to be completed in late 2014.