Intel to invest $7 billion in U.S. facilities

Discussion in 'Wall St. News' started by S2007S, Feb 10, 2009.

  1. S2007S


    Intel to invest $7 billion in U.S. facilities
    By David B. Wilkerson, MarketWatch
    Last update: 9:20 a.m. EST Feb. 10, 2009

    CHICAGO (MarketWatch) -- Semiconductor maker Intel Corp. said Tuesday that it plans to spend $7 billion over the next two years to build advanced manufacturing facilities in the U.S.
    The news comes during a worldwide financial meltdown that has resulted in massive job cuts over the past several months.

    Intel Corporation said the money would fund factories that use its 32-nanometer manufacturing technology to build faster, smaller chips that consume less energy.
    The chip giant will invest in existing manufacturing sites in Oregon, Arizona and New Mexico and will support about 7,000 high-wage, high-skill jobs at those locations -- part of the company's total U.S. workforce of more than 45,000.
    "The capabilities of our 32nm factories are truly extraordinary, and the chips they produce will become the basic building blocks of the digital world, generating economic returns far beyond our industry," said Paul Otellini, chief executive of Intel, in a statement.
  2. Sure, they'll build the factories here. Then they'll hire H1-Bs to do the work.