Silicon Wadi?
http://nytimes.com/2005/07/25/business/worldbusiness/25chip.html
July 25, 2005
Intel Will Build a $4 Billion Plant in Israel
By REUTERS
JERUSALEM, July 24 (Reuters) - Prime Minister Ariel Sharon of Israel
told cabinet ministers on Sunday that he had been informed by Intel's
chairman that the company planned to build another plant in Israel.
Mr. Sharon, in a statement issued by his office, said that Intel's
chairman, Craig R. Barrett, had told him that the company would build
another plant in Kiryat Gat, in southern Israel, in an investment of
about $4 billion.
A spokesman for Intel in Israel declined to comment. The prime
minister's office, together with the Industry and Trade Ministry and
the Finance Ministry, have put together a framework for government
aid to Intel to set up the plant, the Industry and Trade Ministry
said in a separate statement.
The ministry said its investment center would give a grant of 15
percent of the investment up to $3.5 billion, for a total of $525
million.
The finance minister, Benjamin Netanyahu, said in a statement that
the government in 2001 had originally agreed to give a grant to Intel
of 12.5 percent of the investment but recently Intel had asked the
state to raise its grant to 20 percent.
The compromise of 15 percent is worth an additional $90 million.
The plant, which several countries around the world had been lobbying
for, will employ 2,000 workers in Kiryat Gat - home to another
factory that makes Pentium processors and other Intel chips. Intel
employs nearly 6,000 people in chip manufacturing plants and
development centers in Israel.
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