Think Intel is doing okay financially? Sure they are. Intel’s Chuck Mulloy once told us that his company understands it has to spend money to make money, and he wasn’t just feeding us a line of bull. Get this — the world’s No. 1 chip maker announced plans to invest up to $8 billion building a new factory in Oregon and upgrading four existing plants in Arizona and Oregon. That’s $8 billion to be spent on U.S. manufacturing.
“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,” said Paul Otellini, Intel President and CEO.
The projects are expected to create up to 8,000 temporary jobs and as many as 1,000 permanent positions in Oregon when the factory there opens in 2013. The investment will also help with Intel’s transition to 22nm manufacturing technology.
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