Chip giant Intel has announced a $ 3.5 billion investment to build its Rio Rancho production facility in New Mexico.
The purpose of the multi-annual investment is to upgrade the plant to produce advanced semiconductor packaging technologies, including 3D packaging technology called Foveros.
The investment continues to follow ad Intel earlier this year that it plans to build two new semiconductor plants in Arizona at a cost of $ 20 billion.
This investment series is part of a new overhaul by Intel CEO Pat Gelsinger in the company’s integrated hardware manufacturing (IDM) model, which includes setting up a new semiconductor manufacturing business called Intel Foundry Services.
“We are proud to have invested in New Mexico for over 40 years and see that our Rio Rancho campus continues to play an important role in Intel’s global production network in our new era of IDM 2.0,” said Keyvan Esfarjani, Intel’s senior vice president and general manager of manufacturing and operations.
Part of IDM 2.0
The New Mexico investment comes weeks after Gelsinger promised his company would increase production at its existing units to offer help companies remove the current semiconductor chip.
The Rio Rancho plant is one of Intel’s oldest production units, and the company says it is currently developing and manufacturing the Intel Optane product. SSD technology, embedded omnidirectional bridge, and Intel silicon photonics technology.
The chip producer shared in its publication that the new investment will create at least 700 high-tech jobs in the state in addition to 1,000 construction jobs and will also support 3,500 new jobs in the state.