How Intel’s $ 20 Billion Investment Will Transform Arizona’s Economy
Arizona’s reputation as a leader in the technology industry continues to grow. In March, Intel has announced a substantial expansion of its Arizona-based manufacturing capacity with a
A $ 20 billion investment, which includes two new semiconductor manufacturing facilities and the creation of 3,000 new high-tech, high-paying jobs and 3,000 construction jobs; it will also support around 15,000 additional indirect jobs in the community.
According to Sandra Watson, President and CEO of the Arizona Trade AuthorityIntel’s decision to open two new semiconductor factories is transformative by adding new jobs. “These workers will live in our communities, shop at local small businesses and pay taxes in Arizona,” she said. “This expansion will also support thousands of jobs in construction and through suppliers and other industries.”
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Additionally, Watson notes that Intel’s development in Arizona represents the largest private sector investment in state history. She explains, “To put it into perspective, this expansion is almost equivalent to what Intel has invested in the state since 1980. Long-term companies like this are having a ripple effect throughout our economy and will have an impact. positive impact on areas such as K-12 education, infrastructure and public safety for generations to come. “
This investment is significant and will add to Intel’s existing operations with approximately 12,000 employees between two Chandler campuses, and will add value to the Chandler’s Price Road corridor, which includes Northrop Grumman and Microchip. “With this investment, Intel is significantly expanding its presence in Chandler,” says Watson. “When completed, Intel will employ nearly 16,000 Arizonans and have invested over $ 50 billion in our state. Intel will also increase the number of semiconductor factories operating in the state from four to six. “
Micah Miranda, director of economic development for the city of Chandler, says the expansion represents a huge opportunity for the city and the state. “It’s a long-term project within an industry that produces something locally and ships these goods around the world. The deal is also important because of the economic multiplier it has; So for every Intel job created under this project, it will create three more jobs, and a number of other companies are supported by the ongoing activity. “
In addition, the large number of construction workers who will build Intel’s new facility in Arizona will also contribute to Chandler’s economic activity during this time. “Merchants will stay in our hotels, dine in our restaurants and shop in our malls, so these people and their spending will help support the businesses most in difficulty right now due to COVID-19,” notes Miranda.
Intel is more than Chandler’s biggest employer. Intel in Arizona also prioritizes the community through charitable giving. Since 2015, the company and its philanthropic arm, the Intel Foundation, have donated more than
$ 35 million to support Arizona schools and nonprofits, and thousands of local employees have contributed more than 750,000 volunteer hours.
“Intel has not only been a great business partner, but also an exemplary corporate citizen,” says Watson. “Over the years, the company and its employees have been leaders in supporting local schools and students, promoting healthy forests and rivers, providing pandemic relief, volunteering and more.
Miranda adds that Intel is also a major supporter of city-wide initiatives with city government and city nonprofit partners. “Intel’s support isn’t just measured in dollars, it’s also measured over time. The company actively participates in our Science and Technology Festival and its employees sit on community boards. Community participation is part of the corporate culture. “
The Arizona Commerce Authority (ACA) is the state’s premier economic development organization and focuses on key industries, including technology and innovation, to grow existing Arizona businesses and create new ones. . “Over the past 10 years, ACA has focused on lasers to make Arizona the leader in technology and innovation,” says Watson. “As President of the ACA, Governor Doug Ducey has been the primary spokesperson and promoter of our state in creating an environment that allows innovation to flourish. We are seeing the results in exciting new businesses moving to Arizona; in companies, like Intel, which are developing here; and in the boom of our start-up community, which is attracting worldwide attention for its success. There is still work to be done and we remain as committed to making Arizona an international center of excellence for next-generation technologies. “
Intel is one of the world’s largest semiconductor companies, with six wafer manufacturing sites around the world, including its facility in Chandler. “Around the world, we are seeing unprecedented demand for high-tech products powered by semiconductors. Intel is ideally positioned to meet this demand, and much of its strategy is focused on Arizona, ”notes Watson. “Just last year, Intel’s Fab 42 went live in Arizona, making it the company’s largest chipmaking plant in the United States; it is also said to be the most advanced in the world. These strengths, along with Intel’s expansion, place Arizona at the epicenter of technological innovations happening around the world. “
Miranda says that with a major capital investment, companies have a lot of choice of location, so for Intel to continue to choose Chandler is an honor. “The relationship between the city and Intel is very intertwined – from roads to utility infrastructure. We have worked together during the design and build processes of the current facility to ensure we are well positioned on Intel’s roadmap for future capital investments. “
He adds, “The recent announcement means to the private sector that Chandler is not only able to support our largest employer, but with that support Intel feels comfortable continuing to invest in our region, including the city of. Chandler is really proud. “
The new facilities are a testament to Arizona’s strength as a leader in the technology industry. “As a multinational, Intel could have chosen any location in the world to build its new advanced factories”,
Emphasizes Watson. “She chose Arizona because of our strong innovation ecosystem, our world-class university research firm, and our highly skilled and growing workforce. Not only does Intel’s announcement add to Arizona’s already booming tech scene, it sends a signal around the world that our state is the perfect place for advanced manufacturing and emerging technologies. “
Another benefit to the city and state is employees moving to Chandler, creating a diverse workforce. “This multi-factor community is attractive to other businesses we work with, so it adds to Chandler’s economic success and cultural vibrancy,” says Miranda.
Watson comments, “Major investments like this attract additional talent and innovators to the state that add to Arizona’s high-tech ecosystem. As tech companies look to grow or relocate, they want to go where there is already a skilled workforce and a strong supply chain that can meet their needs, now and in the future.
Arizona was in the top 10 countries for tech job creation last year, and is expected to record the third highest tech occupation growth. fast over the next decade, ”she continues. “Which means more and more tech companies will look to Arizona for their next big investment, and we remain focused on continuing to promote Arizona’s unbeatable value proposition for new technologies.” generation.”