Intel Investing $7 Billion Into Arizona's Stalled Fab 42 After President Trump’s Promise Of Tax Reform
Three years later, Intel has announced that it will restart and finish construction of Fab 42 for 7nm chip production. According to a statement from Intel, it will invest over $7 billion into the facility, which should be fully completed within three to four years. Intel says that it will directly employ 3,000 people — including process and support engineers — and that a total of over 10,000 “long-term” jobs will be created as a result.
"Intel is a global manufacturing and technology company, yet we think of ourselves as a leading American innovation enterprise," said Intel CEO Brian Krzanich. "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."
So why this change of heart all of a sudden? While standing in the Oval Office this morning, Krzanich was questioned about whether there was something that President Trump said that changed his mind about finishing construction, to which he replied, “It’s really in support of the tax and regulatory policies that we see the administration pushing forward, that really make it advantageous for manufacturing in the U.S.”
If you recall, this isn’t the first time that Krzanich has shown an interest in President Trump and his policies. During the 2016 Presidential campaign, Krzanich was scheduled to hold a fundraiser for Trump that would have included “a full exchange of views” at this home in Atherton, California. Krzanich, however, abruptly cancelled the fundraiser for unknown reasons.
