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Intel Gains $600M Bond Approval To Support Intel’s $7B Arizona Manufacturing Expansion

By John F. Heerdink, Jr.

Intel Corporation (INTC) seeks to expand the boundaries of technology to provide the most amazing experience possible while designing, manufacturing, and selling integrated digital technology globally.

Recently, Intel received approval for a new $600 million tax-exempt bond through Chandler’s Industrial Development Authority for improvements at its Arizona semiconductor manufacturing plants.  The approval came in unanimously on Feb 27 in a consent agenda. Intel intends to use the money toward capital expenses for certain environmental facilities in connection with portions of its Valley plants.

The project is thought to support Intel’s $7 billion manufacturing expansion for its Chandler facilities which is expected to create 3,000 new jobs and more than 10,000 long-term jobs in Arizona, as per reports. The bond approval is in addition to the $500 million bonds approved in February to assist the construction of Fab 42, the future high-volume semiconductor factory which expected to be ready by 2021 or 2022.

Intel’s bonds are by the Industrial Development Authority, a nonprofit corporation separate from the city formed to promote economic development in the city.

To learn more about Intel Corporation (INTC) and to track its progress please visit the Vista Partners Intel Corporation Coverage Page

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(Read Original Story: Intel receives $600M bond approval for Chandler manufacturing plants in American City Business Journals)


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