Intel's management in Ireland has been pushing for investment for a number of years. There were clearly concerns that, without it, the Leixlip facility could be entering an end-of-life winding-down phase.
It is not yet clear how much support Intel will receive from the IDA Ireland, the country's inward investment promotion agency.
Barry O'Leary, CEO of IDA Ireland, said: "The fact that a global leader such as Intel, which has already invested close to $7 billion in Ireland, has chosen to invest a further $500 million here is an enormous vote of confidence and endorsement of Ireland as a competitive location for global investment. Intel is a bellwether company and this is a significant strategic investment for Ireland. Given that the initial impact over the next two years will result in over 1,000 jobs between construction, contract and full time employment it is immensely positive news."
"High-end manufacturing will continue as a key strategic feature of Ireland’s economy, and capital investment of this scale with the associated investment in training and up-skilling is what will truly transform the Irish economy," he added.
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