Forget the vote in the Senate. Intel Corp.'s own stimulus plan "passed" today, and no votes were needed. According to a company news release:
"Intel President and CEO Paul Otellini ... announced the company would spend $7 billion over the next two years to build advanced manufacturing facilities in the United States. The investment funds deployment of Intel's ... 32 nanometer (nm) manufacturing technology will be used to build faster, smaller chips that consume less energy. "The technology used in Intel's manufacturing process builds chip circuitry 32nm (32/billionth of a meter or about 1/millionth of an inch) across – incredibly small, atomic level structures. "The commitment represents Intel's largest-ever investment for a new manufacturing process. "'We're investing in America to keep Intel and our nation at the forefront of innovation,' Otellini said [in a statement released by the firm]. 'These manufacturing facilities will produce the most advanced computing technology in the world. The capabilities of our 32nm factories are truly extraordinary, and the chips they produce will become the basic building blocks of the digital world, generating economic returns far beyond our industry.' "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 U.S. Intel, while generating more than 75 percent of its sales overseas, carries out roughly 75 percent of its semiconductor manufacturing in the U.S. At the same time, about 75 percent of the company's R&D spending and capital investments are also made in the U.S." Wire service reports indicate that President Barack Obama called Mr. Otellini to congratulate Intel on the move -- and also asked the Intel boss to tout the President's stimulus plan.
