Bingaman & Udall: Intel to Make Major Investment in New Mexico
Plan Would Provide $2.5 Billion in Investment, Thousands of Jobs
WASHINGTON- U.S. Senators Jeff Bingaman and Tom Udall joined Intel CEO Paul Otellini in Washington, D.C., today to announce the corporation will be investing $2.5 billion in its Fab 11x factory, located in Rio Rancho, New Mexico. The new capital is part of Intel's 32 nanometer (nm) technology initiative. It is expected to protect thousands of jobs with Intel and to create 1,000 to 1,500 jobs constructing new facilities.
"This is a great day for Intel in New Mexico and a sign that investment in cutting-edge technology is a way to keep our nation competitive --even in the uncertain times we now face. In Washington, we must continue to make investments in the kind of scientific R&D that will create the technology-based jobs of the future, and I am very happy the economic recovery package we passed in the Senate sets aside billions of dollars for that purpose," Bingaman said.
"I am proud that Intel employs many of the best workers in the world at their Rio Rancho facility to help develop the technologies of the future," said Udall. "By investing in new, 32 nanometer technology in New Mexico, Intel will remain at the cutting edge of microchip technologies and lay the groundwork for job creation now and in years to come."
Intel has operated in New Mexico for 29 years. It invested $2 billion over the last two years in the state, where it currently employs 3,300 workers.