Intel to Invest $3.5 Billion to Expand New Mexico Manufacturing Operations
May 03 2021 - 06:36PM
Business Wire
The Rio Rancho campus investment increases
the manufacturing capacity of breakthrough advanced packaging
technologies.
What’s New: Intel Corporation will invest $3.5 billion to
equip its New Mexico operations for the manufacturing of advanced
semiconductor packaging technologies, including Foveros, Intel’s
breakthrough 3D packaging technology. The multiyear investment is
expected to create at least 700 high-tech jobs and 1,000
construction jobs and support an additional 3,500 jobs in the
state. Planning activities begin immediately, with construction
expected to start in late 2021.
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New Mexico Gov. Michelle Lujan Grisham
(left) and Keyvan Esfarjani, Intel senior vice president and
general manager of Manufacturing and Operations, display a plaque
with a processor wafer on Monday, May 3, 2021, at the Intel Campus
at Rio Rancho, New Mexico. During a news conference, Intel
announced it will invest $3.5 billion in its New Mexico operations
in support of advanced semiconductor packaging technologies.
(Credit: Walden Kirsch/Intel Corporation)
“A key differentiator for our IDM 2.0
strategy is our unquestioned leadership in advanced packaging,
which allows us to mix and match compute tiles to deliver the best
products. We’re seeing tremendous interest in these capabilities
from the industry, especially following the introduction of our new
Intel Foundry Services. We’re proud to have invested in New Mexico
for more than 40 years and we see our Rio Rancho campus continuing
to play a critical role in Intel’s global manufacturing network in
our new era of IDM 2.0.”
–Keyvan Esfarjani, Intel senior vice
president and general manager of Manufacturing and Operations
What Foveros Is: Foveros advanced 3D packaging technology
enables Intel to build processors with compute tiles stacked
vertically, rather than side-by-side, providing greater performance
in a smaller footprint. It also allows Intel to mix and match
compute tiles to optimize for cost and power efficiency. The move
from system-on-chip to “system on package” will enable Intel to
meet increasing computing performance needs for artificial
intelligence, 5G and the edge.
Why It Matters: Intel’s global factory network is a
competitive advantage that enables product optimization, improved
economics and supply resilience. Investing in the company’s
manufacturing operations is a key component of its recently
announced IDM 2.0 strategy. The technologies currently developed
and manufactured at the Rio Rancho site — Intel® Optane™
technology, embedded multi-die interconnect bridge and Intel®
silicon photonics technology — play important roles in Intel’s new
era of innovation by simplifying and optimizing semiconductor
memory, packaging, and connectivity.
“Intel’s $3.5 billion investment in New Mexico will create 700
new jobs in the next three years and establish the Rio Rancho
campus as the company's domestic hub for advanced semiconductor
manufacturing,” said New Mexico Gov. Michelle Lujan Grisham. “With
this exciting development, we are already seeing the benefits of
this year's legislation expanding LEDA, generating high-quality and
high-paying jobs for New Mexicans. The state and Intel have a
40-year partnership, and today, with innovative economic
development tools and global demand for this technology, we can
celebrate a new generation of workers and job growth at Intel’s New
Mexico manufacturing plant.”
About Intel in New Mexico: Since 1980, Intel has invested
$16.3 billion in capital to support its New Mexico operations and
currently employs more than 1,800 people at the site. Its annual
economic impact in the state is $1.2 billion, based on 2019
data.
Intel is committed to corporate responsibility and addressing
community needs. The company purchases renewable energy to meet
100% of its New Mexico electricity use and invests in energy-saving
measures. To reach its goal of achieving net positive water use by
2030, Intel has funded two nonprofit-led water restoration projects
benefiting New Mexico. Over the past five years, employees
volunteered 106,000 hours and Intel and the Intel Foundation
donated more than $8.5 million in support of New Mexico schools and
nonprofits.
More Context: Intel in New Mexico (Press Kit) | Intel
Announces New Mexico Investment (Event Replay)
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating
world-changing technology that enables global progress and enriches
lives. Inspired by Moore’s Law, we continuously work to advance the
design and manufacturing of semiconductors to help address our
customers’ greatest challenges. By embedding intelligence in the
cloud, network, edge and every kind of computing device, we unleash
the potential of data to transform business and society for the
better. To learn more about Intel’s innovations, go to
newsroom.intel.com and intel.com.
Forward-Looking Statements: Statements in this press
release that refer to future plans and expectations, including with
respect to Intel’s planned New Mexico investment and Intel’s
strategy, are forward-looking statements that involve a number of
risks and uncertainties. Statements that refer to or are based on
estimates, forecasts, projections, uncertain events or assumptions
also identify forward-looking statements. Such statements are based
on management’s expectations as of the date of this press release
and involve many risks and uncertainties. Important factors that
could cause actual results to differ materially are set forth in
Intel’s SEC filings, which are available at www.intc.com. Intel
does not undertake, and expressly disclaims any duty, to update any
statement made in this press release, whether as a result of new
information, new developments or otherwise, except to the extent
that disclosure may be required by law.
© Intel Corporation. Intel, the Intel logo and other Intel marks
are trademarks of Intel Corporation or its subsidiaries. Other
names and brands may be claimed as the property of others.
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Chelsea Hughes 503-696-2898 chelsea.hughes@intel.com
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