Intel to Invest €30 Billion in Two Chip-Making Plants in Germany

Creating Over 10,000 New Jobs

Economic Boost for Magdeburg

WEB BERLIN June 19 2023 - Intel and the German federal government have signed a revised letter of intent for Intel's planned leading-edge wafer fabrication facility in Magdeburg, Germany.

Under the agreement, Intel will invest more than €30 billion ($33 billion) to develop two chip-making plants in Magdeburg, creating over 10,000 new jobs in the region.

The new facilities will be located in the city's Gewerbegebiet industrial park and are expected to begin production in the early 2030s.

Intel's investment is a significant boost to the German economy and will help to strengthen Europe's position in the global semiconductor industry.

Conclusion

Intel's investment in Magdeburg is a testament to the company's commitment to the German market and its confidence in the future of the European semiconductor industry. The new facilities will create thousands of new jobs and help to drive economic growth in the region.