by Terresa Monroe-Hamilton | February 8, 2017 2:55 pm
Today, alongside President Trump, Intel chief executive Brian Krzanich announced a new production facility being built in Chandler, Arizona. They will invest $7 billion in the facility. Intel will also employ up to 3,000 people. This is exactly the kind of economy boost the US needs right now and I know Arizona is thrilled at the new jobs about to be created. Krzanich says that over 10,000 people will support the factory… I take that to mean contractors and suppliers they will use. So, this will not just create new jobs at the facility, it will help other businesses as well. A very welcome announcement.
This will complete Fab 42, which was started under the Obama administration and then left vacant because of the economic environment created by Obama. This factory will produce the most powerful computer chips on the planet. They are a giant leap forward for the computer industry. President Trump thanked Krzanich and tweeted this out after the meeting: “Thank you Brian Krzanich, CEO of @Intel. A great investment ($7 BILLION) in American INNOVATION and JOBS! #AmericaFirst????????.”
Intel chief executive Brian Krzanich met with President Donald Trump on Wednesday, where the company announced it will invest $7 billion in a factory employing up to 3,000 people.
The factory will be in Chandler, Arizona, the company said, and over 10,000 people in the Arizona area will support the factory. Krzanich confirmed to CNBC that the investment over the next three to four years would be to complete a previous plant, Fab 42, that was started and then left vacant.
The 7 nanometer chips will be produced there will be “the most powerful computer chips on the planet,” Krzanich said in the Oval Office with the Trump administration. Most Intel manufacturing happens in the U.S., Krzanich said.
“America has a unique combination of talent, a vibrant business environment and access to global markets, which has enabled U.S. companies like Intel to foster economic growth and innovation,” Krzanich said in a statement. “Our factories support jobs — high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located.”
After the announcement, Trump tweeted his thanks to Krzanich, calling the factory a great investment in jobs and innovation.
There will be no incentives from the US government for Intel’s move here. There has been a lot of push back from the technology sector concerning moving jobs back to the US. This is a very good start. Intel was one of more than 100 companies that joined together to file a legal brief opposing Trump’s temporary travel ban on people from seven Muslim-majority nations. So, it is good to know they still have enough business sense to see the writing on the wall by Trump and to make a smart business move like the Chandler one.
The White House said earlier that Vice President Mike Pence would speak with Tesla and SpaceX CEO Elon Musk, a member of Trump’s business advisory council, whose companies had also signed onto the brief. Intel has been criticized for laying off thousands of staffers. Let’s hope this is a substantive reversal of that position so everyone can get back to work at making America great again.
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