Via the National Economics Editorial.

Intel’s Chief Executive Officer, Brian Krzanich, met with President Donald Trump today.

At the meeting, he announced that Intel will invest $7 billion over the next 3-4 years to build a new factory in Chandler, Arizona.

The factory will employ some 3,000 people.

It will manufacture 7 nanometer microchips.  Krzanich says that they will be “the most powerful computer chips on the planet.”

He went on to say that:

America has a unique combination of talent, a vibrant business environment and access to global markets, which has enabled US companies like Intel to foster economic growth and innovation… Our factories support jobs—high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located.

Trump thanked Krzancih and Intel via twitter:

This is big news, but it’s not the first instance of a major IT company pledging to support American industry under President Trump.

Recall that IBM also pledged to create 25,000 new American jobs back in December.

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Posted by Spencer P Morrison

JD candidate, writer, and independent intellectual with a focus on applied philosophy, empirical history, and practical economics. Author of "America Betrayed" and Editor-In-Chief of the National Economics Editorial. Say hi on Twitter @SPMorrison_

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