Is there a performance advantage to declaring a static value globally over a local variable in Java?

Given these code samples: Sample 1 ``` public class SomeClass { private static final int onlyUsedByMethodFoo = 1; // many lines of code public static void foo() { final String value = items[onlyUsedByMethodFoo]; } } ``` Sample 2 ``` public class SomeClass { // many lines of code public static void foo() { final int onlyUsedByMethodFoo = 1; final String value = items[onlyUsedByMethodFoo]; } } ``` I prefer the second code sample because the value is close to where it is used. It is only used by Foo() anyway. I don't see an advantage declaring it as a global value, even though Foo() is called frequently. The only advantage to a global static value I can see is potentially in performance, but it is unclear how much of a performance advantage it would be. Perhaps Java recognizes this and optimizes the byte-code. Concerning performance, is it worth declaring a constant value globally? Does the performance gain justify moving a constant value farther from where it is used and read by the programmer?