Intel will get additional funding from the Israel authorities to expand production

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POSTER: computer news   ||   INTEL WILL GET ADDITIONAL FUNDING FROM THE ISRAEL AUTHORITIES TO EXPAND PRODUCTION	DATE:2011-07-28
Intel is trying to get funds from the Israeli authorities to co-finance the construction of a new building factories in the city of Kiryat Gat in the south.  The construction cost is estimated at $ 2.7 billion, from which approximately $ 200 million provided by local authorities.  Intel, for its part, takes a commitment of employment a certain number of specialists from the local community. The Israeli authorities agreed to allocate an additional $ 290 million to expand Intel production capacity in this country.  Of these funds approximately $ 90 million will go to expansion of Fab 28 in Kiryat Gat, where time will be put in the output of Intel's 22 nm and 14 nm technologies.  According to the agreement between Intel and the Israeli authorities, the company will employ another 1,500 residents. Another $ 160 million will be used to launch a assembly Intel chipset package factory in northern Israel, where the number of employees in the first phase will reach 600 people.  More government subsidies of $ 45 million will allow the company to increase staff to 1,000.  In addition, Intel will receive certain tax benefits which are provided by local law for investors.  Disbursement of funds from Intel in 2014, the employer undertakes to maintain a specified number of jobs for at least ten years. Related Products :

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