Arizona's economy will soon get a boost courtesy of Intel, which plans to build a new fabrication plant in the state, company president CEO Paul Otellini announced. The $5 billion facility will add 4,000 U.S. jobs in 2011, mostly related to product development and R&D. Fab 42, as it's been designated, will be the most advanced high-volume semiconductor plant in the world and will also generate thousands of construction jobs.
"This new factory will play a central role in extending Intel's unquestioned leadership in semiconductor manufacturing," Otelllni said. "The transistors and chips it will produce will be the most dynamic platform for innovation that our company has ever created. Together they will enable more capable computers, the most advanced consumer electronics and mobile devices, the brains inside the next generation of robotics, and thousands of other applications that have yet to be invented."
Intel said in October it plans to invest $6 billion to $8 billion over the next several years on existing facilities and building new ones. According to Reuters, the Arizona plant will specialize in 14nm semiconductors.