American technology firm Intel plans to invest over $7bn to complete Fab42, a semiconductor factory in Chandler, Arizona.
US president Donald Trump and Intel CEO Brian Krzanich made the announcement last week at the White House.
The factory, expected to be the most advanced semiconductor factory in the world, will manufacture microprocessors to power computers, data centers, sensors and other high-tech devices.
Intel CEO Krzanich said: “This factory will help the US maintain its position as the global leader in the semiconductor industry. Intel is a global manufacturing and technology company, yet we think of ourselves as a leading American innovation enterprise.
“America has a unique combination of talent, a vibrant business environment and access to global markets, which has enabled US companies like Intel to foster economic growth and innovation. Our factories support jobs — high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located.”
The factory is expected to be completed within three to four years, and create about 3,000 high-tech jobs, and over 10,000 long-term jobs in Arizona.
* Data provided by Timetric's Construction Intelligence Center.