Intel to invest $7B in Arizona semiconductor factory

CHANDLER, Ariz. (KSAZ) - Chip-making giant Intel says it will finally complete a multi-billion dollar Arizona plant it announced during a visit by then-President Barack Obama to a company plant in Oregon in 2011.

The announcement came Wednesday during a visit by Intel CEO Brian Krzanich with President Donald Trump at the White House.

The plant, which is located near the corner of Dobson and Ocotillo in Chandler, was built and then left vacant by the Santa Clara, Calif.-based company. The plant, called Fab 42, will build the most advanced semiconductors in the world when it is completed in three to four years.

Intel had touted the facility as a new $5 billion investment in Arizona that would bring 2,000-3,000 construction jobs to the state. State lawmakers said they expected about 1,000 permanent positions. The facility was left vacant after market conditions for the chips it planned to make there changed.

Wednesday's announcement increased the investment amount to $7 billion and the number of jobs to 3,000. In addition, Intel estimates a grand total of 10,000 jobs will be added in the state, after businesses that will help support the factory's operations are factored in.

Statement from Arizona Senator John McCain:

"Intel's announcement that it will invest $7 billion to construct what is expected to be the most advanced semiconductor factory in the world in Chandler, Arizona, is great news for the people of our state. This decision, which will create more than 3,000 high-tech, high-wage jobs and as many as 10,000 long-term jobs in Arizona, is a testament to our state's reputation as a technology leader and an excellent place to do business. As one of the most innovative technology and manufacturing companies, Intel had its choice to build this facility anywhere in the world - and it chose to do so in Arizona. This truly reflects our state's dynamic workforce, growing technology sector, pro-business environment and great quality of life for all who live and work here."

Online: newsroom.intel.com/?p=70310

The Associated Press contributed to this report.