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© alphaspirit dreamstime.com Components | September 22, 2014

Intel's massive investment in Israel

The American chipmaker Intel, is going forward with its plans for Israel, investing roughly USD 6 billion in the upgrade of its manufacturing facility.
Israel's finance and economy ministries have approved the American company's plan to expand its presence in the country. Intel will be handed a USD 300 million government grant over five years and will be eligible to pay a corporate tax of 5% over a 10 year period, according to a report in Reuters.

With the investment the company plans to expand its workforce with an additional 1'000 workers at its plant in Kiryat Gat by 2023, the report concludes.

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June 15 2018 12:12 am V9.6.1-2