"Amidst Conflict with Hamas, Israel Awards Largest-Ever Grant to Intel"

 

Israel's government has granted approval for Intel to receive a $3.2 billion subsidy, unrelated to the ongoing tensions with Hamas, for the establishment of a chip plant in southern Israel. Intel's decision to invest in this facility aims to strengthen the global supply chain and enhance resilience in the face of various challenges. Additionally, Intel has outlined plans for manufacturing expansions in both Europe and the United States.

The subsidy, amounting to 12.8% of the overall investment, aligns with Israel's initiative to promote economic progress and innovative ventures. In support of this, Intel commits to acquiring goods and services worth 60 billion shekels from local suppliers over the next decade. The construction of the new plant is expected to generate thousands of jobs.

Already overseeing four sites in Israel with nearly 12,000 employees, Intel's increased investment in the region follows an announcement by Prime Minister Benjamin Netanyahu. The expansion project, including the creation of clean rooms and essential support structures like pile casting and foundational floors, is currently underway.

Set to commence operations in 2027 and operational until 2035, the new facility not only solidifies Intel's presence in Israel but also significantly contributes to the country's economic framework and job market. Intel's strategic decision aligns with its global agenda, underscoring its crucial role in the dynamic global technology supply chain.