Intel: We're spending $7 billion on U.S. plants

Intel said Tuesday it will spend $7 billion over the next two years to roll out 32 nanometer manufacturing plants in the U.S.

The chip giant said the investment will be made in existing manufacturing sites in Oregon, Arizona and New Mexico and create 7,000 jobs (statement). 

CEO Paul Otellini said the effort is designed to bolster U.S. manufacturing and push 32 nm factories, which were described as "truly extraordinary." Intel noted that 75 percent of its manufacturing operations are in the U.s. along with its R&D and capital investments. 

According to the company, Intel will accelerate 32 nm production with its Westmere production in 2009 with more products to follow in 2010. Here's where Westmere fits in on Intel's product roadmap:

While it's nice to write about a company actually creating jobs, the timing of Intel's announcement is curious given the stimulus bill that's being debated. I looked to see if there were any depreciation benefits for companies that build out in the U.S. but didn't find anything that would directly apply to Intel's move--unless there's an argument that 32 nm chips somehow help broadband adoption.