The Paper's business coverage is supported by Southwest Capital Bank.
Intel executives and politicians were planning to make a big announcement at a press conference scheduled Monday morning but their CEO ruined the surprise Sunday night.
In an interview on 60 Minutes Sunday night, CEO Pat Gelsinger told Leslie Stahl that the global chip manufacturer is making a huge investment in American manufacturing, spending $20 billion on two new microchip fabrication plants in Arizona and investing in the company’s Rio Rancho campus where the company is pioneering new chip designs.
Asking about the company’s Rio Rancho fabrication facility, called a “fab” for short, Gelsinger tells Stahl that Intel is investing $3.5 billion and will add 700 new jobs at the site.
Watch that announcement here:
After shrinking to about 1,100 employees in 2017, the company has been slowly adding positions and expanding production lines for new technology developed locally, according to the Albuquerque Journal‘s reporting earlier this year.
Although today’s announcement is no longer a surprise, Intel executives will hold a live news conference regarding a new investment at its Rio Rancho, New Mexico, manufacturing facility. Keyvan Esfarjani, Intel senior vice president and general manager of Manufacturing and Operations, will be joined for an update in New Mexico by Gov. Michelle Lujan Grisham, U.S. Sen. Martin Heinrich, U.S. Sen. Ben Ray Luján and U.S. Rep. Teresa Leger Fernandez at 10:30 am online here.