Intel invests 80 billion euros in manufacturing, research and development in the EU
Intel wants to invest in the semiconductor value chain in the EU. The chip giant will invest up to 80 billion euros. The first step will be a new production center in Magdeburg costing 17 billion euros.
Intel wants to create nothing less than the next generation of the European chip ecosystem and make the supply chain more balanced and resilient in the process. The chip giant from Santa Clara is spending 80 billion euros on this. 17 billion of this will go toward the construction of two semiconductor factories in Magdeburg. The construction project is to start as early as 2023 and the first semiconductors are to leave the factories in 2027. This is expected to create 3000 permanent high-tech jobs.
Intel also plans to invest a total of 16.5 billion in existing factories in Ireland and a new one in Italy. In addition to the investments in manufacturing, a research and development hub is to be created in France. The other locations within the EU will also be expanded. By investing in manufacturing, production and development, Intel hopes to create a cycle of innovation that will trigger further positive economic developments in the EU.
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