Intel to Build $5B Arizona Plant

HILLSBORO, Ore. -- Intel's (INTC) chief executive says the company will build a new $5 billion manufacturing facility in the Phoenix suburb of Chandler.

CEO Paul Otellini made the announcement Friday at the company's plant in Hillsboro, Ore., after he gave a tour of the facility to President Barack Obama.

Otellini says the Arizona facility will create thousands of new jobs and will be the most advanced high-volume semi-conductor factory in the world.

The president came to Intel to highlight the company's support for education in science, technology, engineering and math.

Obama says investments in education are critical for producing American workers qualified for high-tech jobs.

> > Bull or Bear? Vote in Our Poll

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Technology

GameStop Jumps 9% on Private Equity Buyout Rumors

GameStop Jumps 9% on Private Equity Buyout Rumors

Worth a Stunning $6.6 Trillion, Tech Stocks Have Taken Over the Market

Worth a Stunning $6.6 Trillion, Tech Stocks Have Taken Over the Market

Here's Why Snap Shares Climbed Monday

Here's Why Snap Shares Climbed Monday

Dropbox Soars in Third-Straight Record-Setting Session

Dropbox Soars in Third-Straight Record-Setting Session

Bitcoin Today: Prices Close to Flat in Low-Volume Trading

Bitcoin Today: Prices Close to Flat in Low-Volume Trading