Intel reached an agreement with the German federal government regarding incentives and financial support on its planned wafer fabrication site in Magdeburg, the capital of Saxony-Anhalt state.
Intel said the Silicon Junction project now encompasses an investment of more than 30 billion euros for two semiconductor fabs. The site is expected to create 7,000 construction jobs over the course of the first phase of the build, approximately 3,000 permanent high-tech jobs at Intel and tens of thousands of additional jobs across the industry ecosystem.
Intel also confirmed that the fab will use its advanced Angstrom-era technology and that it will produce chips for Intel Foundry Services customers as well as its own designs.
Chancellor Olaf Scholz of Germany said, “Today’s agreement is an important step for Germany as a high-tech production location – and for our resilience. Intel’s semiconductor production in Magdeburg is the single largest foreign direct investment in German history. With this investment, we are catching up technologically with the world’s best and expanding our own capacities for the ecosystem development and production of microchips. This is good news for Magdeburg, for Germany and for all of Europe.”
