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.