Intel to Invest $3.5 Billion to Expand New Mexico Manufacturing Operations

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While planning activities have begun, construction is expected to start later this year

Intel

Intel Corporation will invest $3.5 billion to equip its New Mexico operations for the manufacturing of advanced semiconductor packaging technologies, the company said in a statement. This would include Foveros, Intel’s breakthrough 3D packaging technology. 

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According to the statement, the multiyear investment is expected to create at least 700 high-tech jobs and 1,000 construction jobs and support an additional 3,500 jobs in the state. 

While planning activities have begun, construction is expected to start later this year.

“We’re proud to have invested in New Mexico for more than 40 years and we see our Rio Rancho campus continuing to play a critical role in Intel’s global manufacturing network in our new era of IDM 2.0,” said Keyvan Esfarjani, Intel senior vice president and general manager of Manufacturing and Operations

Foveros advanced 3D packaging technology enables Intel to build processors with compute tiles stacked vertically, rather than side-by-side, providing greater performance in a smaller footprint. The move from system-on-chip to “system on package” will enable Intel to meet increasing computing performance needs for artificial intelligence, 5G and the edge, the company further said. 

Intel’s global factory network is a competitive advantage that enables product optimization, improved economics and supply resilience. The technologies currently developed and manufactured at the Rio Rancho site play important roles in Intel’s new era of innovation by simplifying and optimizing semiconductor memory, packaging, and connectivity.

Since 1980, Intel has invested $16.3 billion in capital to support its New Mexico operations and currently employs more than 1,800 people at the site. Its annual economic impact in the state is $1.2 billion, based on 2019 data.

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