NETANYA, Israel Sales of semiconductors by Israeli chip makers reached $2.9 billion in 2007, including exports from foreign owned fabs, such as Intel's.
The data is based on a survey conducted by Israel's Manufacturing Association, presented at a conference this week organized by the local High Tech CEO Forum, which acts in the framework of the The Israeli Center for Management.
The $2.9 billion represents 18 percent of total sales of Israel’s industrial electronics sector.
The venture capital investment in local chip companies totaled $327 million in 2007. Around 150 companies are developing chips in Israel. Multinational semiconductor players include the likes of Freescale Semiconductor, Intel, Texas Instruments, IBM, SanDisk, IBM and Marvell.
The average monthly salary in the Israeli chip industry in 2007 was $3,440.