March 18, 2012, Updated September 11, 2012

Intel has invested $9.4 billion in Israel to date, Intel Israel general manager Maxine Fassberg said at the company’s annual press conference at its Fab 28 in Kiryat Gat today. According to a Globes report, Fassberg told the press conference that the Sandy Bridge processor, which was developed in Israel, accounts for 40 percent of the chip giant’s revenue.

“Intel Israel’s exports totaled $22.4 billion in 1999-2011,” said Fassberg. The company’s exports totaled $2.2 billion in 2011.

Globes reported that Intel Israel made $628 million in reciprocal procurements from Israeli companies and estimates its contribution to the Israeli economy at $4.1 billion.

Intel Israel’s operations have led to the founding of 230 companies that have hired 250 employees a year since 2006. “When we’re asked what is Intel’s added value to the Israeli economy, I think that this is a nice example, on top of the export numbers,” Fassberg was quoted as saying.

According to the report, Fassberg said Intel Israel currently has 7,800 employees and would hire another 600 employees in 2012. 

The press conference also touched on Intel’s Ivy Bridge processor.

Last May Intel announced that Intel Israel in Kiryat Gat will produce the new Ivy Bridge processor, making it one of only two manufacturing factories worldwide to assemble the new technology.

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Jason Harris

Jason Harris

Executive Director

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