$25 BILLION FACTORY: Intel to make ‘largest investment in Israel’s history’ June 19, 2023The symbol for Intel appears on a screen at the Nasdaq MarketSite in New York, Oct. 1, 2019. (AP Photo/Richard Drew, File)(AP Photo/Richard Drew, File)$25 BILLION FACTORY: Intel to make ‘largest investment in Israel’s history’Prime Minister Benjamin Netanyahu said the deal was “unprecedented.”By World Israel News StaffIntel semiconductor giant will build a new chip manufacturing plant in Israel in a deal worth $25 billion, Prime Minister Benjamin Netanyahu said on Sunday, calling it the largest-ever international investment in the country.The factory, scheduled to open in 2027, will employ thousands of workers at wages above the industry average, the Finance Ministry said.The deal will include a significant the tax hike for the company, from the current 5 percent to 7.5 percent.The company employs around 10,000 people in four cities in Israel: Haifa, Yakum, Petach Tikva and Jerusalem.Intel Israel in 2022 posted record exports of $8.7 billion.In 2017, Intel bought Mobileye for over $15 billion, still the largest investment in Israeli tech to date. In 2022, it also bought Israeli foundry Tower Semiconductor for $5.4 billion. Benjamin NetanyahuElon MuskIntelIsraeli technology
