Financial thoughts

Hector Ruiz is scheduled to take his first steps on Luther Forest Technology Campus in Malta today.

Ruiz, Advanced Micro Devices Inc.’s executive chairman, wants to get a look at the work that’s taken place on the site.

He should get an eyeful.

“The town of Malta looks like a war zone, in many ways, because there’s so much redevelopment. It’s transformational,” said Malta Supervisor Paul Sausville, earlier this week.

Saratoga County is in the process of installing a $79 million water pipeline that will service Luther Forest and AMD’s potential plant there. About five miles of roads are being built within the Luther Forest site, and a bypass is under construction that will enable drivers to get off Interstate 87 and head straight for Luther Forest, skipping the village of Round Lake.

It was Ruiz, then AMD’s CEO, who announced back in 2006 that AMD (NYSE: AMD) of Sunnyvale, Calif., planned to build a chip plant in Luther Forest.

Michael Relyea, who heads the Luther Forest Technology Campus Economic Development Corp., will be giving Ruiz the tour of the campus.

“We put out the invitation,” Relyea said. “We want Hector to be able to relate back to his peers at the executive level that this site is on track and ready to be built on. We’re calling it a ‘site inspection.’ Luther Forest is now not a vacant piece of property but actual, tangible construction is happening here.”

Ruiz’s visit comes just two days after the town board of Malta unanimously approved legislation that was a prerequisite AMD to build a $3.2 billion plant there cash advance.

The town and AMD hammered out a variety of issues related to the potential construction of the plant that is expected to create at least 1,465 permanent jobs.

AMD has until next summer to formally commit to build the plant and still receive $1.2 billion in state incentives.

AMD spokesman Travis Bullard called the legislation “the foundation for the new fab.”

Ruiz starts his day today with a visit with the presidents of area colleges at the Fort Orange Club in Albany, N.Y., Bullard said.

Then, he’ll take a walk on the Luther Forest Technology Campus and end the day at the Saratoga Race Course.

“[Former Senate Majority Leader Joe] Bruno is hosting him at the race track,” Bullard said, “to take in some local culture.”