Intel is reportedly investing $11bn by furthering its manufacturing activities in Israel

It has been revealed that one of the world’s leading producer of semiconductor chips, Intel, has issued a business plan to invest up to $11bn in a new advanced manufacturing plant in Israel, one of the largest investments the country has received.
Set to bring thousands of new jobs to the region, Intel has stated that the deal will subject to the Israeli state providing a 10% grant within this investment. It follows on from its plans last year to also invest up to $5bn in expanding its Kiryat Gat production plant, a facility. Through the deal, Intel is set to receive $190mn in government grants.
“Intel continues to demonstrate the strong performance of Intel Israel and we continue to lead in terms of corporate economic and social investment in Israel,” commented Daniel Benatar, General Manager of Intel’s manufacturing plant in Kiryat Gat. The business currently pays a corporate tax of 5%, which will remain unchanged.