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Intel boosts economy

Feb 21, 2011 (1 year ago)

Intel’s BIG plans for Chandler and Arizona’s economy with a 5billion$ project. The project will bring thousands of jobs when the construction starts this summer the facility expected to open in 2013 will provide an estimate of a 1,000 jobs to run the facility. People have questions about the taxing around the company, Intel will not pay taxes as they fall under a foreign trade zone the taxes are abated. The project will have benefits both short and long term, the Fab 42 facility will bring in 14,000 temporary jobs. The project also will help diversify the states economy helping export sales and trades. The factory is expected to bring the state 320 million dollars within the first decade in direct revenue from the company, which is more then compensating for the tax break they received. This is great news all around for the economy and the housing market, Intel might need specifically qualified employees to move to Arizona, which meens families will need homes. Intel has made the biggest change our economy has seen in these recent years, hopefully it will be a giant boost.