Intel to Expand its Manufacturing Base in Israel

The Israeli Government revealed that chipmaker Intel plans to expand its presence in the country for manufacturing and R&D. The company is reportedly preparing an ILS 18 billion (around USD $5 billion) investment toward expanding its Kiryat Gat manufacturing facility in southern Israel. The expansion will also include an ILS 3 billion expenditure by Intel on local suppliers. In return, Israel is giving Intel tax-breaks running up to 2027, where the company will be taxed at a reduced rate of 5 percent. The Government is also considering an ILS 700 million grant to the company. Intel is one of the largest employers and manufacturers in Israel. The company exported $3.5 billion worth goods and services from the country in 2017.

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