Monday September 22, 2014

Intel Spending $6B Upgrading Israel Manufacturing Plant

Intel has brokered a deal with Israel to spend $6 billion upgrading its manufacturing plant there in exchange for tax breaks and other incentives.

Intel has negotiated a deal with the Israeli government under which the company will spend $6 billion on upgrades to its chip fabrication plant in Kirya Gat, the country's finance and economy ministries announced Monday. In turn, Israel will grant Intel a total of $300 million over five years. In addition, Intel's corporate tax rate will be set at a lower-than-normal 5 percent for 10 years.

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