Intel Adds 570 Jobs, NIS 10B in Kiryat Gat Expansion (Israel)

inn ^ | 10/7/10 | Chana Ya'ar

[Nachum]

An announcement by the government trumpeting the addition of 570 new jobs at Intel’s chip manufacturing plant in Kiryat Gat has created excitement in the finance sector.

The upgrade -- which means an investment of NIS 10 billion ($2.7 billion) in Israel’s economy – will be carried out over an eight-year span, and is slated to begin in 2011. By 2018, the Kiryat Gat plant is expected to number about 3,100 staff members.

The project is still subject to final approval from the government’s investment center and the Knesset Finance Committee.

[Nachum]

The company offered jobs in Israel to Americans after buying out a U.S.-based Texas Instruments cable modem products line this summer.

[ml/nj]

Traveling about for a couple of weeks before attending a wedding next week one thing is obvious: there is no recession in Israel.

ML/NJ (in Israel)

[fruser1]

Shouldn’t that be “Intel unexpectedly adds 570 jobs”?

Oh, I see it’s an Israeli news source.