Intel's president and chief executive Paul Otellini said on Thursday that it will invest in a new chip manufacturing plant at its Chandler, Arizona facility.
The investment will be in the region of $5bn (£3.08bn) and construction will begin later in 2011. Otellini made the announcement during a visit by President Barack Obama to an Intel facility in Hillsboro, Oregon. On Thursday, Obama dined in Silicon Valley with some of the most powerful names in the tech industry to discuss innovation and, presumably, how that could lead to job creation in the US.
Intel has announced plans to invest $5bn in a factory in Arizona, as President Obama dined with tech bosses including Steve Jobs and Mark Zuckerberg. Photo credit: US Government
Intel said that the new Arizona factory will be the most advanced, high-volume semiconductor manufacturing facility in the world. In a statement, the company noted that while more than three-quarters of Intel's sales come from outside of the US, three-quarters of its microprocessors are manufactured within the US.
For more on this ZDNet UK-selected story, see Intel to bring jobs, innovation with new Arizona manufacturing plant on ZDNet.com.