Technology content trusted in North America and globally since 1999
8,589 Reviews & Articles | 67,031 News Posts

Intel plans $11 billion manufacturing plant in Israel

Israeli sources state Intel will invest $11 billion in a new plant, creating 1000 new jobs

By Anthony Garreffa on Jan 29, 2019 11:24 pm CST - 1 min, 2 secs reading time

Intel is rumored to be tooling up a new manufacturing plant in Israel later this year, with a reported $11 billion investment into the country that will see the Israeli government selling up with a $1 billion grant that would make this the "largest single investment ever made in Israel".

Intel plans $11 billion manufacturing plant in Israel | TweakTown.com

The new manufacturing plant will reportedly be built in the southern city of Kiryat Gat, Israel where Intel will create 1000 jobs, a number that will add onto the current 13,000 employees in Israel. Intel has previously asked the Israeli government to chip in 10-15% of the expected cost of the facility, but Israel instead offered a 5% grant with a further 5% tax credit for a promise of jobs and operation of the plant for at least 12 years.

Israeli Finance Minister, Moshe Kahlon, said on Tuesday that Intel h ad applied for a grant from the Israeli government to the tune of around $1 billion, for a new fab that would cost $11 billion. Kahlon said: "The moment the company comes to Israel and invests $10 billion, and it receives a grant of 9%, that means 91% of it stays here. There are always such discounts, there are always incentives".

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:anandtech.com

Related Tags