Intel sets out the path for increased semiconductor manufacturing in the EU

Intel today announced the largest pan-European investment programme in the history of the company. Manufacturing and R&D investment plans for Ireland, France, Germany, Italy, Spain and Poland will help create the next generation of semiconductor ecosystem in Europe.

For over 30 years Ireland has been the flag-bearer of Intel’s European manufacturing presence and with this renewed investment in the region we remain at the very centre of our company’s global ambitions.

With today’s announcement Intel plans to build multiple leading-edge manufacturing sites in Europe. Here, on the same former stud farm site that Intel selected for its first European manufacturing base in the late 1980s, we are completing construction of our latest manufacturing expansion – Fab 34. With this new fab we double the manufacturing capacity available in Ireland and will deliver powerful and efficient Intel 4 technology to a continent hungry for local production of leading-edge semiconductor technology. 

In March last year we confirmed that €5 billion was invested in its construction between 2019 and 2021. Today our CEO Pat Gelsinger confirmed that a further €12 billion will be invested in Fab 34 between now and the end of 2023. This brings the total investment in Fab 34 to €17 billion and our total investment in Ireland to more than €30 billion.

This is the strongest possible evidence of Intel’s deep commitment to Ireland. It is remarkable to think that the €17 billion we are investing in this 5-year period is double our total investment in Ireland over the previous 30 years. 

The building of Fab 34 has supported more than 5,000 construction jobs over the past three years and provided a very welcome boost for a broad range of suppliers, contractors and transport operators at a time when the effects of COVID 19 were impacting so many aspects of the Irish economy. The new facility will also add 1,600 new Intel roles at Leixlip, bringing our total direct employment in Ireland to more than 6,500 people. Furthermore, an analysis by PwC shows that, once this latest phase of construction is complete, our presence in Ireland will contribute €2.75 billion to the economy annually.We are proud of the contribution that we are making to the community and economy here in Ireland. And as the EU seeks to double its share of global microchip production over the next decade, Intel and Ireland are positioned in the vanguard of that strategic campaign.

Forward-Looking Statements

Statements in this press release that refer to future plans and expectations, including with respect to Intel’s manufacturing expansion and investment plans in the European Union (EU), are forward-looking statements that involve a number of risks and uncertainties. Words such as “anticipates,” “expects,” “intends,” “goals,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” “will,” “would,” “on track,” “should,” “could,” and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to the anticipated benefits of Intel’s planned EU investments, including with respect to meeting future demand and future capacity expansion; anticipated supplier, ecosystem, community, and government support and approval for Intel’s planned EU investments and anticipated benefits related to such support; the proposed transaction between Intel and Tower Semiconductor (Tower), including statements regarding the benefits and the timing of the transaction, as well as statements regarding the companies’ products, customers, and markets; additional future site investments and the timing of such investments; anticipated construction and production timing for Intel’s planned factories; future products and technology and the availability and benefits of such products and technology, including future transistor technology; environmental plans for and benefits from Intel’s factories and technologies, including regarding energy use, water use, and waste; future external foundry business; plans and goals related to Intel’s foundry business; foundry service offerings; market opportunity; and anticipated trends in our businesses or the markets relevant to them, also identify forward-looking statements. Such statements are based on management’s expectations as of the date they were first made and involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Important factors that could cause actual results to differ materially include, among others, Intel’s failure to realize the anticipated benefits of its strategy, plans, and proposed transactions; construction delays or changes in plans due to business, economic, or other factors; increases in capital requirements and changes in capital investment plans; adverse changes in anticipated government incentives and associated approval related to Intel’s planned EU investments; adverse legislative or other government actions; insufficient ecosystem support; the risk that the proposed transaction with Tower may not be completed in a timely manner or at all; uncertainties as to the timing of the consummation of the Tower transaction and the potential failure to satisfy the conditions to the consummation of the transaction, including the receipt of certain governmental and regulatory approvals; demands in Tower customer end markets and for Tower foundry services and/or products that exceed Tower’s capacity; the impact of macroeconomic and geopolitical trends and events; and the factors set forth in Intel’s Securities and Exchange Commission (SEC) filings, including the company’s most recent reports on Forms 10-K and 10-Q, which may be obtained by visiting our Investor Relations website at www.intc.com or the SEC’s website at www.sec.gov. 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.