Intel announces plans for $5 billion plant in Arizona

New plant will employ 4,000 workers and will be in operation in 2013.

Chipmaker Intel Corporation announces plans to build a $5 billion plant in Arizona that would also hire 4,000 new employees in the United States, the company said on Feb. 18.

Preparing for a global expansion, Intel needed to expand its manufacturing capacity in the United States, the microprocessor chip company said. The state-of-the-art factory will begin operations in 2013.

Intel's CEO, Paul Otellini, announced the deal during a visit by President Barack Obama to Intel's factory in Hillsboro, Ore., last week.

Otellini called the new Arizona facility “Feb 42,” in the announcement. “Fab 42 will be the most advanced high-volume semiconductor factory in the world,” Otellini said at the event in Oregon.

The new plant will spur rounds of hiring by Intel. “I’m proud to announce that this year Intel will hire 4,000 new permanent, highly skilled employees in the U.S.,” Otellini said. “This activity will create thousands of construction and permanent manufacturing jobs in this country.”

Click here to read the entire article.