Intel is behind a $3.5 billion initiative to support investment in U.S.-based growth-oriented industries. The initiative also wants to increase jobs available this year for recent college graduates.
The Invest in America Alliance, led by Intel, includes commitments from 17 technology and other corporate leaders to increase their hiring of college graduates to as many as 10,500 college students in 2010.
Intel Capital by itself is providing $200 million to target clean technology, information technology and biotechnology.
"Many college graduates have been among the hardest hit by the economic downturn and providing them a place in the economy today is the best way to ensure America's innovation and competitiveness tomorrow," said Richard Taylor, vice president and director of Human Resources for Intel, in a statement.
It's going to take both money and imagination for the next generation of engineers to take up the mantle of American ingenuity.
The number of companies in the alliance pledging to hire grads should include many more than the 17 currently committed.