Intel confirms $3.5 billion New Mexico investment

Monday, 03. May 2021 18:42

Intel Corporation confirmed on Monday it intends to invest $3.5 billion in its Rio Rancho, New Mexico, manufacturing facility to enable the production of "advanced semiconductor packaging technologies, including Foveros."

The investment is a part of the company's recently announced IDM 2.0 strategy. "A key differentiator for our IDM 2.0 strategy is our unquestioned leadership in advanced packaging, which allows us to mix and match compute tiles to deliver the best products," Intel Senior Vice President and General Manager of Manufacturing and Operations Keyvan Esfarjani noted.

The company expects the move to result in the creation of 700 "high-tech" jobs at the plant, another 1,000 jobs on the construction project and to "support an additional 3,500 jobs" in New Mexico. The investment will "establish the Rio Rancho campus as the company's domestic hub for advanced semiconductor manufacturing," New Mexico Governor Michelle Lujan Grisham stated, pointing out that "this exciting development" is another chapter in the 40-year partnership between the state and the company.

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