 In 2002, the Saratoga Economic Development Corporation (SEDC) began to tout its proposed tech park, to be named the Luther Forest Technology Campus, as a site for a chip plant.It would be there that GlobalFoundries, a spin-off of Advanced Micro Devices (AMD), decided to build a $4.2 billion chip fab, ground breaking was in July 2009.The State of New York gave nearly $1.4 billion in cash and tax incentives, the largest such package in state history.