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Intel To Invest $20 Bln To Build Two New Chip Plants In Arizona

Intel Corp. (INTC) said Tuesday that it will invest $20 billion to build two new semiconductor factories in Arizona. It expects to begin planning and construction activities this year.

The company noted that the investment will lead to create more than 3,000 permanent high-wage, high-tech jobs; more than 3,000 construction jobs; and about 15,000 local long-term jobs.

At "Intel Unleashed: Engineering the Future" webcast, Intel CEO Pat Gelsinger announced the evolution of the company's integrated device manufacturing model strategy - called IDM 2.0. The new factories will support the increasing requirements of Intel's current products and customers, as well as provide committed capacity for foundry customers.

Arizona Governor, Doug Ducey, welcomed Intel's $20 billion expansion in Arizona. With this new expansion, Intel will employ nearly 16,000 Arizonans and will have invested more than $50 billion in the state.

Intel operates four other fabs in Arizona, including Fab 42, the company's largest chipmaking factory in the United States and said to be the most advanced in the world.

In addition to high-volume manufacturing, Arizona is also home to Intel's Assembly Test Technology Development group and functions like marketing, finance, human resources, legal, supply chain and logistics, and more.

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