Intel gets $185 million grant for fab expansion in Israel

Posted on Tuesday, December 25 2018 @ 13:26 CET by Thomas De Maesschalck

The Israeli government has awarded Intel a 700 million shekel ($185 million) grant for the chip giant's planned $5 billion expansion in the country. Intel wants to upgrade its Kiryat Gat manufacturing facilities in Israel, which is expected to result in 250 new hires and 2.1 billion shekels in local purchases.

Intel is one of the biggest employers and exporters in Israel. The company may also decide to further expand its Israeli operations in 2019:

Intel may decide to expand its Israeli operations even further in 2019, according to Israel’s economy minister.

“Intel will make, in my estimation, another significant investment in the coming year,” Economy Minister Eli Cohen said last week at a business conference in Jerusalem.

Via: Reuters

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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