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Intel has unveiled its plans to invest $5 billion in its current Kiryat Gat plant, located in the southern region of Israel. With this investment, Intel plans to expand the plant’s research and production capacity while extensively upgrading production facilities to make modern processors.
Intel has a long history of working in Israel. It cannot be forgotten that the engineers who created the original Core architecture, at the time of the debacle that were the Pentium IVs with the Prescot core, were all Israelis who worked for the company in its Research and Development sector.
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The Kiryat Gat factory was inaugurated in 1999, although by 2008 it had already become too small, and Intel opened a second factory within the same facilities, called Fab 28. And it has been with this Fab that Intel has It has been up and running in this country so far, producing 32nm processors initially, though it later jumped to the 22nm node.
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However, the original factory is quite outdated to this day. And that’s why Intel has decided to invest a good amount of money in it again, with the ultimate goal of upgrading it enough to be able to produce modern processors in a smaller manufacturing node.
Intel’s investment will be accompanied by juicy tax breaks for the company
The Minister of Economy of Israel has confirmed that one of the conditions for Intel to carry out the investment of 5,000 million dollars in the Kiryat Gat plant is that, in turn, it invests another 838 million dollars in suppliers premises during the period of the expansion of the plant, which is estimated to be from 2018 to 2020. This investment will further strengthen Intel’s position in the country’s industry, where it is already the 4th exporter of components in the entire Israel.
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Unsurprisingly, the Finance Minister has also announced that with the investment in Kiryat Gat, the manufacturer will receive an extension of its 5% tax breaks until 2027. He also talked about awarding a $195 million grant ( which could be renewable for another one), as long as the company commits to continue investing in this plant, which has already become one of the main technological points in the country.
