Intel to Invest Over $36 Billion in Europe

Intel announced today that it will invest over $36 billion in Europe, with about $19 billion of that earmarked for a new German fab and about $13 billion for an expansion of its existing Ireland facilities.

“Today, Intel is announcing plans for a €33B investment in R&D and manufacturing in the European Union,” the Intel Policy account tweeted. “With plans for a leading-edge fab in Germany, a new R&D hub in France, and expansions in Ireland, Italy, Poland, and Spain, the stage is set.”

Intel has selected the city of Magdeburg for its massive new German facility, and it will apparently resemble the space Intel is now building in Ohio, with future investments totaling $90 billion a possibility. The site will employ 3,000 people permanently, along with 7,000 construction workers. Intel CEO says that he wants Europe to account for 20 percent of Intel’s manufacturing capabilities, up from 9 percent today. (He likewise wants the U.S. to account for 30 percent, up from 12 percent today.)

“This broad initiative will boost Europe’s R&D innovation and bring leading-edge manufacturing to the region for the benefit of our customers and partners around the world,” Mr. Gelsinger said. “We are committed to playing an essential role in shaping Europe’s digital future for decades to come.”

In addition to its work in Germany, Intel will make other investments in France (a new R&D lab with 1,000 new jobs), Ireland (a doubling of its manufacturing capacity), Italy (€4.5 billion for a manufacturing facility and 1,500 new jobs), Poland (expanded lab space), and Spain. The firm already has factories in Ireland, along with those in Israel and Arizona, New Mexico, and Oregon in the United States.