U.S. chip manufacturer Intel will invest $1.2 billion in its Costa Rican operations over the next two years. The investment will help Intel’s Costa Rican operations cement the company’s role as a key player in the semiconductor sector, which is experiencing growing demand.
The investment confirms Intel’s commitment to Costa Rica’s technological development goals, according to a company statement. Intel plans to update infrastructure and technical and engineering skills, aid development of future products, and invest in local talent. The company also pledged to promote job creation in the fields of science, technology, engineering and mathematics (STEM). Intel employs 3,300 workers at its Costa Rica operations, which are housed within its 26,000-square-meter plant and 17,000 square meters of laboratory space.
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Earlier this summer, the U.S. State Department said that it would partner with Costa Rica’s government to support the country’s semiconductor sector through the 2022 Chips and Science Act.
“The objective is for our operations to maintain the highest corporate standards and for us to continue being a key player in the growing global demand for semiconductors,” stated Ileana Rojas, Global Vice President of Design Engineering and General Manager of Intel Costa Rica, in a press release. “The collaborative effort with governments to enhance competitiveness and streamline processes in all the locations where we operate is also essential.”