• Messianic Daily News

Intel To Invest An "Unprecedented" 11 Billion In Israel Operations

JNN News, January 31, 2019

USA technology giant Intel Corp is to invest an "unprecedented" $10.9 billion in the company's Israel-based operations, Finance Minister Moshe Kahlon announced earlier this week, significantly expanding its multi-billion dollar presence in the country.  "This is huge news for everyone who cares about the State of Israel, the Israeli economy and Israeli citizens," Kahlon said, adding that the "unprecedented decision" following a year of government efforts would create thousands of jobs for residents of the South. Israeli media reported that it is planning to use its largest investment in Israel to date to construct a vast production facility in the southern city of Kiryat Gat. "Our continued confidence in Intel’s future and excellent partnership with the State of Israel is at the foundation of the business plan we will submit," said Yaniv Garty, Intel VP and Intel Israel General Manager. The new factory is expected to span some 370,000 square meters, and the land will be allocated by the government without having to go through a tender process. "Intel's choice to continue to significantly invest in Israel is an important expression of confidence in the Jewish state and the Israeli economy," said Economy Minister Eli Cohen. (J.Post)

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