Intel Gets $3.2 Billion Israeli Grant for $25 Billion Plant

Israel called Intel’s investment an ‘important and significant’ one given that the country is at war against ‘absolute evil.’
Intel Gets $3.2 Billion Israeli Grant for $25 Billion Plant
The Intel logo outside of the Intel headquarters in Santa Clara, Calif., on April 26, 2018. Justin Sullivan/Getty Images
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Intel will receive a $3.2 billion grant from the Israeli government in exchange for investing $25 billion in the country for chip development.

The $3.2 billion grant announcement came as Intel said it was bumping up investment in its Kiryat Gat facility located in southern Israel by $15 billion. Back in 2019, the company said it would invest $10 billion in the facility. With Intel now hiking the investment to $25 billion, the $3.2 billion government grant would make up 12.8 percent of the total investment. The multi-billion dollar grant will not be given to Intel in one go. Instead, it will be transferred over several years, with the company obligated to meet certain milestones.
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