Intel investing 7Bn in new US based fabs, creating 7000 jobs

[Chilly]

I think this is great, they are taking advantage of the downturn, its cheap to buy and build things, and thats just what their doing! I see this as a great investment for them!

Otellini used the podium at the Economic Forum in Washington, DC this morning to unveil a $7 billion manufacturing initiative over the next two years to add capacity and upgrade existing wafer fabrication plants in Arizona, New Mexico and Oregon, with plans to add 7,000 high-wage jobs in the process.

It's the largest plan of its kind in Intel's history, and shows the company is preparing for a fairly sizeable economic turnaround.

More importantly, the company is earmarking the entire investment in domestic manufacturing and jobs at a time when so many other companies have expanded operations overseas, taking American jobs with them.
"We're investing in America to keep Intel and our nation at the forefront of innovation," Otellini said in this morning's speech.

Source/Full Article

[Soultribunal]

I think its about time our countries (Canada & USA ) started moving manufacturing back to our shores. That would help turn around all this economic turmoil, or at least be a good start...
Good job for Intel on this one.

ST

[encorp]

they just closed some overseas fabs too! this completely rocks!

[Eagle Eye]

Was someone waving a big american flag in background while the speech was going on? lol.

Seriously a good move imo, I think we will continue to see far better products and consistency from Intel.

Good find Chilly,

EE

[bojangles]

I don't mind paying a little extra for allowing North Americans to have jobs again. Just like paying extra for Roots clothing.

[Eagle Eye]

Bojangles is that shyt still made in Canada or is it a "Product of Canada made with imported fabrics"

[Phobia]

I wonder if this will turn some AMD fan boys over to intel. They might want to support intel, because they're trying to get the economy turned down, and are creating American jobs while doing so.

[chrisk]

Need some positive economic news....this downturn is being encouraged by our pessimism from all the media reports...self fulfilling prophecy. Good on Intel

[Jonwall]

nice thing to do, although you know theyre only doing it because its cheaper now. Had there not been this economic disaster you likely wouldnt see this happen, theyre in it to make money, and if it makes them look good in the process even better.

Nice to see 7000 people getting jobs in the future though, hopefully more companies do the same

[bigjee]

Well said.

Most people should ask themselves why these companies went off-shore in the first place.

Upside is more jobs for ppl here.

Now its about who can weather this storm and come out on top.