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.