Intel CEO Brian Krzanich visited President Trump at the White House Wednesday and announced a $7 billion investment in a semiconductor factory in Chandler, Arizona that he claims will employ 3,000 high-wage workers at the height of production.
Dubbed Fab 42, Intel’s Chandler factory will build some of “the most advanced 7-nanometer semiconductor chips on the planet,” Krzanich said, adding that the company’s investment in the factory is also an investment in American manufacturing. Intel — which announced layoffs of some 12,000 employees in 2016 — said the facility will create “approximately 3,000 high-tech, high-wage jobs” and “more than 10,000 total long-term jobs in Arizona.”
“We’re very happy and I can tell you the people of Arizona are very happy,” President Trump said of Intel’s factory announcement.
Today marks the second time Intel has announced Fab 42 alongside a sitting US President. In February of 2011, the company announced Fab 42 during a visit to an Intel facility by President Obama. At that time it said the facility would “create thousands of construction and permanent manufacturing jobs,” with a scheduled completion date in 2013.