Intel’s $6 Billion Investment Plan Approved by Israeli Ministry
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Intel Corp., the world’s largest maker of computer chips, gained the approval of the Israeli government for its plan to invest $6 billion in its factory in the south of the country.
The decision entitles Intel to a $300 million government grant and a 10-year reduced tax rate, the Finance Ministry said in an e-mailed statement today. Intel will employ 1,000 workers, the ministry said, and will also buy at least $550 million of Israeli products.