Intel Corp. Announces $7 Billion Investment in Arizona Plant
February 08 2017 - 1:59PM
Dow Jones News
By John D. McKinnon and Ted Greenwald
WASHINGTON -- President Donald Trump and Intel Corp. Chief
Executive Brian Krzanich announced plans for a major manufacturing
facility in Arizona Wednesday.
A White House official, citing information from Intel, described
the planned facility as "the most advanced semiconductor facility
in the world." It will employ 3,000 people, officials said.
Some chips that will be made there will be used in emerging
technologies where Intel is seeking growth as its personal-computer
business matures. Those new areas include 5th generation or 5G
networks as well as drones.
"This will impact a wide spectrum of industries from automotive
to health care," the White House official said.
Intel's plans involve opening a manufacturing plant in Chandler
known as Fab 42 that was largely completed several years ago but
never put in service, the official said. That facility drew praise
from then-President Barack Obama in 2012 for its potential to bring
more manufacturing jobs to the U.S. But the company announced in
2014 that plans had changed and the plant wouldn't be opening after
all, amid changing market conditions.
It wasn't immediately clear what role the Trump administration
might be playing in facilitating the plant's opening. Mr. Trump and
his aides talk often about reducing the cost of doing business in
the U.S. by easing regulatory and other burdens. The official said
Wednesday Intel officials are expected to emphasize the
administration's tax and regulatory overhaul agenda.
The announcement is the latest in a series of events by Mr.
Trump aimed at highlighting his administration's efforts to boost
job creation, particularly in manufacturing.
It also might offer an opportunity for the president to try to
reset his relationship with the high tech industry, after the
criticism he received from many Silicon Valley companies over his
recent executive order on immigration.
"I think this shows the kind of partnership the president
envisions having with major companies and startups alike that
populate places like Silicon Valley," the official said.
Write to John D. McKinnon at john.mckinnon@wsj.com and Ted
Greenwald at Ted.Greenwald@wsj.com
(END) Dow Jones Newswires
February 08, 2017 13:44 ET (18:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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