WASHINGTON, DC – Intel today announced plans to spend $7 billion over the next two years to build advanced manufacturing facilities in the US. The investment funds deployment of Intel's 32nm manufacturing technology and represents Intel's largest-ever investment for a new manufacturing process.

Intel's investment will be made at existing manufacturing sites in Oregon, Arizona and New Mexico and will support approximately 7,000 high-wage, high-skill jobs at those locations -- part of a total Intel workforce of more than 45,000 in the US. Intel, while generating more than 75% of its sales overseas, carries out roughly 75% of its semiconductor manufacturing in the US, which is also where it spends three-quarters of its investments, the company said

In a speech this morning at the Economic Club of Washington, DC, Intel president and CEO Paul Otellini said, "We're investing in America to keep Intel and our nation at the forefront of innovation. These manufacturing facilities will produce the most advanced computing technology in the world. The chips will become the basic building blocks of the digital world, generating economic returns far beyond our industry."