Intel Corporation will invest $3.5 billion to equip its New Mexico operations for the manufacturing of advanced semiconductor packaging technologies, including Foveros, Intel’s 3D packaging technology, the company said in a statement.
“The multiyear investment is expected to create at least 700 high-tech jobs and 1,000 construction jobs and support an additional 3,500 jobs in the state. Planning activities begin immediately, with construction expected to start in late 2021,” it added.
“A key differentiator for our IDM 2.0 strategy is our unquestioned leadership in advanced packaging, which allows us to mix and match compute tiles to deliver the best products. We’re seeing tremendous interest in these capabilities from the industry, especially following the introduction of our new Intel Foundry Services. We’re proud to have invested in New Mexico for more than 40 years and we see our Rio Rancho campus continuing to play a critical role in Intel’s global manufacturing network in our new era of IDM 2.0,” said Keyvan Esfarjani, Intel senior vice president and general manager of Manufacturing and Operations.
“Intel’s $3.5 billion investment in New Mexico will create 700 new jobs in the next three years and establish the Rio Rancho campus as the company’s domestic hub for advanced semiconductor manufacturing,” said New Mexico Gov. Michelle Lujan Grisham. “With this exciting development, we are already seeing the benefits of this year’s legislation expanding LEDA, generating high-quality and high-paying jobs for New Mexicans. The state and Intel have a 40-year partnership, and today, with innovative economic development tools and global demand for this technology, we can celebrate a new generation of workers and job growth at Intel’s New Mexico manufacturing plant.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.