Tuesday, January 29th 2019
Intel Prepares a Mammoth $11 Billion Investment in Israel
With a combination of tax-sops and State support, Intel loosened its purse-strings for a massive investment in Israel, where the company already has substantial investments in manufacturing and R&D. The investment consists of a 40 billion Shekel (~USD $11 billion) semiconductor foundry. "Intel's global management has informed us about its decision to invest another 40 billion shekels in Israel, an unprecedented decision that is expected to bring thousands of jobs to the south (of Israel)," said the country's Minister of Finance, Moshe Kahlon.
This $11 billion investment closely follows news of Intel committing $5 billion last year toward expanding its existing facility in Kiryat Gat. Expansion of this plant in the southern part of the country, is expected to complete by 2020. As part of that agreement, Intel will spend $3 billion on sourcing materials, labor, and services from local Israeli businesses. The new factory is slated to come up in the same city, although it's not known if the site is contiguous with the existing factory. Intel is one of the largest multinational employers in Israel.
Source:
Reuters
This $11 billion investment closely follows news of Intel committing $5 billion last year toward expanding its existing facility in Kiryat Gat. Expansion of this plant in the southern part of the country, is expected to complete by 2020. As part of that agreement, Intel will spend $3 billion on sourcing materials, labor, and services from local Israeli businesses. The new factory is slated to come up in the same city, although it's not known if the site is contiguous with the existing factory. Intel is one of the largest multinational employers in Israel.
37 Comments on Intel Prepares a Mammoth $11 Billion Investment in Israel
2021+ is starting to look a little brighter now.
I know what your point is but like every other 'boycott' stance, there's always an element of unintended hypocrisy.
I see the worst part being a fab in an exceptionally volatile region of the world. I wonder what their Risk stratification is for the site?
If that is about those 3 billions from USA (and which also includes Egypt receiving cash due to the same agreement), then that is just about a drop in the bucket.
Israel on the other side has pretty talented people, wages are lower than either US or the UK, probably also taxes are better. Lets not forget that Core microarchitecture was built in Israel. Business man are (in big numbers and percentages) jewish. They know their stuff, compared to US or UK, so I think it is a logical move from Intel's part.
I also don 't buy Intel because i absolutely hate it as a company, more than almost anything else in the world. It's a scumbag, cheating, lying money-grabbing cancer of a company that abuses its position and marketshare to spread lies and other anti-competitive behaviour, rather than letting its product speak for themselves. (9900K 50% faster than 2700X!). I support AMD because I support innovation, fairer prices and better products. And I don't have to sacrifice any performance either :) In fact i gain some. I will freely admit I am a bit of a fangirl though.
Stop the AMD vs Intel vs whoever spats.
Stop the wise cracks on someone's ethnic/nationality heritages.
Thank You.
Those include Sandy-ivy, Skylake-coffee lake.
Where i work we make clean room pumps, Ive seen many frames heading to Isreal over the past nine months. And some E zeniths.