Intel has confirmed that it is to begin a construction project at its technology campus in Leixlip, Ireland which will invest around $500 million in the country creating around 200 high-level jobs.
The move, which will create an estimated 850 temporary construction roles and result in around 200 new technical positions being made available at the company's facilities in Leixlip, has been welcomed by the country's inward investment promotion agency.
IDA Ireland's chief executive officer Barry O'Leary, said, "The fact that a global leader such as Intel, which has already invested close to $7bn in Ireland, has chosen to invest a further $500m here is an enormous vote of confidence and endorsement of Ireland as a competitive location for global investment.
"Intel is a bell-weather [bellwether] company and this is a significant strategic investment for Ireland. Given that the initial impact over the next two years will result in over 1,000 jobs between construction, contract and full time employment it is immensely positive news."
The investment represents a tiny drop in the ocean for technology giant Intel, which boasted a whopping $11.7 billion profit for the financial year just ended during its recent earnings call, but a major shot in the arm for the Irish economy, which is still struggling to escape from recession.