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takyon [soylentnews.org] writes:

Intel Discloses Plans to Spend $5 Billion on Fab 28 Expansion in Israel [anandtech.com]

Intel and two Israeli ministries this week announced that the chip giant plans to invest $5 billion in its Kiryat Gat fab complex – Fab 28 – through 2020. Under the plan, Intel is expected to buy various products from local suppliers and hire additional personnel. In return, Israel will provide the processor maker a tax rebate and a government grant. Furthermore, Intel will receive another grant if it upgrades its manufacturing in Israel further.

Under the terms of the investment plan, Intel will invest $5 billion (NIS 18 billion) in its Kiryat Gat ventures [intel.com] until 2020. The chip giant is expected to buy $838 million (NIS 3 billion) worth of local goods and add 250 people to its workforce, reports The Times of Israel [timesofisrael.com] citing the Finance Ministry. If the plan is approved by the Israeli authorities, Intel will get a 5% tax rebate till 2027, as well as a $195.5 million (NIS 700 million) government grant. Additionally, if Intel decides to "significantly upgrade" its fab "technologically", the company will get another $195.5 million grant.

Also at CTech [calcalistech.com].

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