Intel’s $7 Billion Investment to Create 10,000 Jobs
Tech major Intel Corporation announced Wednesday its plans to invest more than $7 billion to complete Fab 42, which is expected to be the most advanced semiconductor factory in the world.
According to Intel, the high-volume factory is in Chandler, Ariz., and is targeted to use the 7 nanometer (nm) manufacturing process. It will produce microprocessors to power data centers and hundreds of millions of smart and connected devices worldwide.
The announcement was made by the U.S. President Donald Trump and Intel CEO Brian Krzanich at the White House.
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President Trump thanked Krzanich, saying it is a great investment in American innovation and jobs.
The completion of Fab 42 in 3 to 4 years will directly create approximately 3,000 high-tech, high-wage Intel jobs for process engineers, equipment technicians, and facilities-support engineers and technicians who will work at the site.
Combined with the indirect impact on businesses that will help support the factory’s operations, Fab 42 is expected to create more than 10,000 total long-term jobs in Arizona.
“This factory will help the U.S. maintain its position as the global leader in the semiconductor industry,” said Krzanich.
He also sent an email to Intel employees explaining the context for the investment.
Photo courtesy: Intel