When President Donald Trump met with Intel chief executive Brian Krzanich on Wednesday to discuss one of Trump’s major campaign promises — to provide Americans with more jobs, and how Intel can help Make America Great Again — things turned from talk to action pretty quickly, with one state getting a massive economic boost from the high-tech giant.
During the discussion it was announced that Intel plans to invest $7 billion into a factory in Chandler, Arizona, that would employ up to 3,000 people directly, and mean up to 10,000 related jobs in the state.
Krzanich confirmed to CNBC that the $7 billion dollar investment, which would be implemented over the next three to four years, would involve completing a previous Intel plant, Fab 42, that the company started then left vacant.
The factory’s main output will be 7 nanometer chips that Krzanich said would be, “the most powerful computer chips on the planet,” adding later that “America has a unique combination of talent, a vibrant business environment and access to global markets, which has enabled U.S. companies like Intel to foster economic growth and innovation.”
“Our factories support jobs — high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located,” he said.
You can see the announcement here:
This news is particularly noteworthy because Intel was one of more than 100 companies that joined together to file a legal brief opposing President Trump’s temporary travel ban and the company has further been criticized in the past for laying off thousands of employees despite an influx of visa requests.
According to CNBC, there will be no incentives from the White House for the Intel project, but it is clear that America will be watching. This could be great if done right.
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