Intel to invest $7 bn in new factory, employ 3,000

Intel to invest $7 bn in new factory, employ 3,000


Intel CEO Brian Krzanich after a meeting with US President Donald Trump, announced that the tech giant will invest $7 billion in a new factory employing up to 3,000 people, the media reported.
The factory will be in located Chandler, Arizona, the company said.

Krzanich confirmed to CNBC News that the investment over the next three to four years would be to complete a previous plant, Fab 42, that was started and then left vacant.

The 7 nanometer chips will be produced there will be “the most powerful computer chips on the planet”, Krzanich said in the Oval Office with the Trump administration.

Most Intel manufacturing happens in the US, Krzanich said.

“America has a unique combination of talent, a vibrant business environment and access to global markets, which has enabled US companies like Intel to foster economic growth and innovation,” Krzanich said in a statement.

“Our factories support jobs – high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located.”

After the announcement, Trump tweeted his thanks to Krzanich, calling the factory a great investment in jobs and innovation, CNBC News reported.

The announcement comes as the technology industry has pushed back against the Trump administration, amid mounting pressure to move manufacturing jobs back to the US.

However, the White House said that there will be no incentives from the federal government for the Intel project.

Intel was one of more than 100 companies that joined together to file a legal brief opposing Trump’s temporary travel ban on people from seven Muslim-majority nations.


Hits: 254

Leave a comment

Intel to invest $7 bn in new factory, employ 3,000 | NORTH INDIA KALEIDOSCOPE

Rajesh Ahuja

I am a veteran journalist based in Chandigarh India.I joined the profession in June 1982 and worked as a Staff Reporter with the National Herald at Delhi till June 1986. I joined The Hindu at Delhi in 1986 as a Staff Reporter and was promoted as Special Correspondent in 1993 and transferred to Chandigarh. I left The Hindu in September 2012 and launched my own newspaper ventures including this news portal and a weekly newspaper NORTH INDIA KALEIDOSCOPE (currently temporarily suspended).