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Intel in Rio Rancho receives $500M to expand facility

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Intel in Rio Rancho is receiving half a billion dollars from the federal government for a massive expansion, bringing advanced technology, upgraded facilities, and more jobs to metro area The $500 million comes from the CHIPS & Science Act.
Intel's Rio Rancho facility in New Mexico has been awarded a $500 million grant from the U.S. Department of Commerce under the CHIPS and Science Act. This funding aims to support the expansion of Intel's semiconductor manufacturing capabilities, specifically for the production of advanced packaging technologies. The investment is part of a broader initiative to bolster domestic semiconductor production, reduce reliance on foreign manufacturing, and enhance national security. The grant will help in creating jobs, advancing technology, and reinforcing the U.S. position in the global semiconductor market. Additionally, this move is expected to stimulate economic growth in the region and contribute to the development of a skilled workforce in high-tech manufacturing.

Read the Full YAHOO!Finance Article at [ https://finance.yahoo.com/news/intel-rio-rancho-receives-500m-001521435.html ]