I think what would happen is that there would be a fab in canada, mexico or TX :-). My concern is can Intel run a fab by itself anymore? Does Intel have the management ability and does Intel employ enough manufacturing talent to run a fab with it's own employees?
Is Intel leaving the NAND business or being pushed out? They lack scale so supporting dev costs on their own is less than ideal and maybe even unsustainable. NAND is also relatively low margins, doesn't fit with what Intel likes and , to make it worse, the high end will shift more and more towards new memories, pushing the mix down for NAND.