Intel Israel to hire 1,000 new employees

New Kiryat Gat factory will produce 22 nanometer technology; plant includes NIS 740 million investment grant from gov't.

Intel 311 (photo credit: Intel Israel)
Intel 311
(photo credit: Intel Israel)
Intel Israel Ltd. said Tuesday that it will recruit 1,000 new employees in 2011 to develop and upgrade its Kiryat Gat factory, which will produce 22 nanometer technology for semiconductors.
“We are going to invest $2.7 billion in the next two years in 22 nanometer technology. We will undertake it in our clean room with additional workforce but without building another factory,” said Maxine Fassberg, Intel Israel’s general manager at a press conference in Tel Aviv on Tuesday. “There will be an exchange of machinery that will lower the pace of production while we are bringing in the machinery with new technology at the same time.”
The investment in the Kiryat Gat factory includes a government grant of NIS 740 million.
Intel Israel currently has 7,057 employees and Fassberg said that the company indirectly employs an additional 20,000 people.
Intel Israel exported $2.7b. in 2010, down from $3.4b. in 2009 but up from $1.39b. in 2008, and $1.54b. in 2007.
Intel Corporation had revenues of $43.6b. in 2010.
In 2010, Intel implemented $264m. in reciprocal procurements in Israel, and also purchased production machinery worth $52m.