Intel, Trump Tout Billion-Dollar Chip Plant That Will Create Thousands of Jobs

President Donald Trump and Intel (INTC) - Get Report  CEO Brian Krzanich announced a $7 million investment in an advanced computer chip factory in Chandler,  Ariz., on Wednesday. Initially, Intel had shelved development of the plant in 2014, some three years after announcing plans for it.

Krzanich noted that the facility, called Fab 42, would employ 3,000 people at its peak and indirectly create 10,000 jobs in the Arizona area in support of the factory. Intel said the investments will take place over the next three to four years. Trump called the investment a "great thing for Arizona," a press pool report said.

This article was written by a staff member of TheStreet.