Intel Set To Invest Up To $8 Billion In New US Chip Plants

Intel has announced that it will invest $6 billion to $8 billion in new manufacturing facilities in the US.

The facilities will be designed to improve the manufacture of miniature silicon chips.

The Financial Times reports that the investment plans come after the company protested against the lack of subsidies and tax policies from the US government.

Intel argued that this makes setting up chip manufacturing units a costly affair in the US.

According to Intel, the multi-billion dollar investment would see the company setting up a fabrication plant, also known as 'fab', in Oregon and would also upgrade four existing plants in Oregon and Arizona.

The project will be generating 6,000 to 8,000 construction jobs and result in 800 to 1,000 new permanent high-tech jobs.

Intel CEO Paul Otellini, said in a press release: “Today's announcement reflects the next tranche of the continued advancement of Moore's Law and a further commitment to invest in the future of Intel and America.”