RIO RANCHO, NM — Intel Corporation says it will invest $3.5 billion to equip its New Mexico operations for the manufacturing of advanced semiconductor packaging technologies, including Foveros, Intel’s 3D packaging technology. The multiyear investment is expected to create at least 700 high-tech jobs and 1,000 construction jobs and support an additional 3,500 jobs in the state. Planning activities begin immediately, with construction expected to start in late 2021.
Foveros advanced 3D packaging technology enables Intel to build processors with compute tiles stacked vertically, rather than side-by-side, providing greater performance in a smaller footprint. It also allows Intel to mix and match compute tiles to optimize for cost and power efficiency. The move from system-on-chip to “system on package” will enable Intel to meet increasing computing performance needs for artificial intelligence, 5G and the edge.
“A key differentiator for our IDM 2.0 strategy is our unquestioned leadership in advanced packaging, which allows us to mix and match compute tiles to deliver the best products,” said Keyvan Esfarjani, Intel senior vice president and general manager of Manufacturing and Operations. “We’re seeing tremendous interest in these capabilities from the industry, especially following the introduction of our new Intel Foundry Services. We’re proud to have invested in New Mexico for more than 40 years and we see our Rio Rancho campus continuing to play a critical role in Intel’s global manufacturing network in our new era of IDM 2.0.”
“Intel’s $3.5 billion investment in New Mexico will create 700 new jobs in the next three years and establish the Rio Rancho campus as the company’s domestic hub for advanced semiconductor manufacturing,” said New Mexico Gov. Michelle Lujan Grisham. “With this exciting development, we are already seeing the benefits of this year’s legislation expanding LEDA, generating high-quality and high-paying jobs for New Mexicans. The state and Intel have a 40-year partnership, and today, with innovative economic development tools and global demand for this technology, we can celebrate a new generation of workers and job growth at Intel’s New Mexico manufacturing plant.”
Since 1980, Intel has invested $16.3 billion in capital to support its New Mexico operations and currently employs more than 1,800 people at the site. Its annual economic impact in the state is $1.2 billion, based on 2019 data.