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Intel Corporation (INTC): $500M CHIPS Act Investment to Modernize Rio Rancho Fabs, Creating 4,300 Jobs

Intel Corporation has announced a significant investment of $500 million under the CHIPS Act to modernize its Rio Rancho, New Mexico facilities. This investment aims to enhance the production capabilities of Intel's Fab 9 and Fab 11X, focusing on advanced packaging technologies. The upgrade is expected to create approximately 4,300 jobs, both directly at Intel and indirectly through construction and other related activities. This move not only supports Intel's strategy to bolster its U.S. manufacturing base but also aligns with broader national goals to strengthen domestic semiconductor production, reduce reliance on foreign manufacturing, and secure supply chains. The project will also contribute to the local economy by fostering growth in the high-tech sector in New Mexico.

Read the Full MSN Article at [ https://www.msn.com/en-us/money/markets/intel-corporation-intc-500m-chips-act-investment-to-modernize-rio-rancho-fabs-creating-4-300-jobs/ar-AA1uQCoS ]