Intel Plans To Invest $7B In Arizona Semiconductor Plant
Intel plans to invest $7B to complete a factory in Chandler, Ariz., that would create up to 3,000 high-tech, high-wage jobs. The plans were announced during Intel chief executive Brian Krzanich's meeting with President Donald Trump today.
The majority of Intel's manufacturing is based in the U.S. Krzanich said the factory would create more than 10,000 jobs in Arizona, including businesses that support the factory, which will produce next-generation semiconductors. Intel has more than 50,000 employees in the U.S. The company will spend the next three to four years completing its Fab 42 plant.
Intel started making computer chips in its Chandler plant in 1980, according to the Phoenix Business Journal. In 2011, the company announced a $5B plan to overhaul the campus, which included building Fab 42, intended even then to make the latest in chip technology. Fab 42 has sat idle since, waiting on the next wave of semiconductor technology.
Intel creates high-wage jobs through its high-tech manufacturing and fosters economic growth and innovation, Krzanich said. The meeting with the president and announcement come two days after Intel and nearly 100 other tech firms, which rely heavily on foreign-born workers, filed a brief with the 9th Circuit Court of Appeals arguing against Trump's executive order on immigration.