President Trump met with Intel CEO Brian Krzanich in the Oval Office Wednesday, where they announced plans to complete an abandoned Arizona project.
Krzanich said Intel will be investing $7 billion to complete construction of a semiconductor plant in Chandler, Arizona, that will result in 3,000 new jobs.
Construction had actually started on the new factory in 2011, but had been left vacant in 2014.
Krzanich explained that they decided to resume the project as a result of President Trump’s policies on taxes and regulations.
“It’s really in support of the tax and regulatory policies that we see the administration pushing forward that really make it advantageous to do manufacturing in the US,” he stated.
The plant is expected to be completed in three to four years, and could generate as many as 10,000 total jobs through “support activities.”
H/T: Business Insider
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