{"id":1004525791,"date":"2021-03-24T12:29:02","date_gmt":"2021-03-24T20:29:02","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004518156"},"modified":"2021-05-19T00:48:32","modified_gmt":"2021-05-19T08:48:32","slug":"intel-expands-arizona-footprint-with-20b-investment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/intel-expands-arizona-footprint-with-20b-investment\/","title":{"rendered":"Intel Expands Arizona Footprint With $20B Investment"},"content":{"rendered":"
\"\"

Fab 42 facility at Intel’s Ocotillo campus in Chandler, Ariz. Image courtesy of Intel<\/em><\/p><\/div>\n

Intel is expanding its semiconductor manufacturing capacity, unveiling plans for two new factories at the company’s Ocotillo campus in Chandler, Ariz. <\/p>\n

The build-out represents an investment of $20 billion. The new projects will provide more than 3,000 high-wage, high-tech jobs; 3,000 construction jobs, and 15,000 long-term jobs. <\/p>\n

\n

READ ALSO: <\/strong>Phoenix Market Update: Suburban Assets Lead Activity<\/a><\/p>\n

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CEO Pat Gelsinger announced IDM 2.0, Intel’s integrated device manufacturing model strategy, at the company’s virtual webcast. The facilities will support increasing requirements for Intel’s current products and customers. Gelsinger was joined by Doug Ducey, Gov. of Arizona; Dr. Randhir Thakur, president of Intel Foundry Services; and Keyvan Esfarjani, Intel senior vice president in Manufacturing & Operations.  <\/p>\n

Thakur said in a prepared statement that Intel will continue its tradition of innovating and investing in Arizona. He noted support from partnerships with the State of Arizona and the Biden Administration for creating a business environment that encourages investment in this type of new semiconductor innovation.<\/p>\n

Phoenix firing on all cylinders<\/h2>\n

Phoenix has been the go-to destination for big projects over the last few months. Earlier this year, news emerged that the planned megaproject of Taiwanese semiconductor producer TSMC will be three times larger than initially announced, with just the first phase encompassing 3.8 million square feet across several facilities. The company bought 1,128 acres in north Phoenix in December, according to ABC15 Arizona<\/em>, with the project’s total price tag close to $35 billion.  <\/p>\n

Last month, a joint venture between Macerich and RED Development received rezoning approval from the city to move forward with the redevelopment of Paradise Valley Mall<\/a>. The property will transform the 1.2 million-square-foot shopping center into a 6.5 million-square-foot mixed-use property.<\/p>\n

Another large mixed-use project moved ahead this month, with Keystone Equities buying 139 acres<\/a> in Goodyear for its 2.1 million-square-foot Innovation Centre, which is set to include industrial, office, retail and other uses.  <\/p>\n

In January, The Kroger Co. also announced a new facility in Phoenix, investing $89 million<\/a> in the nearly 223,000-sqaure-foot development. <\/p>\n","protected":false},"excerpt":{"rendered":"

Two new factories will be developed at the company’s Ocotillo campus in Chandler.<\/p>\n","protected":false},"author":746,"featured_media":1004527820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,21783,21742,1601,15],"tags":[],"class_list":["post-1004525791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-investment","category-latest","category-phoenix","category-west"],"acf":[],"yoast_head":"\nIntel Expands Arizona Footprint With $20B Investment - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/intel-expands-arizona-footprint-with-20b-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Intel Expands Arizona Footprint With $20B Investment\" \/>\n<meta property=\"og:description\" content=\"Two new factories will be developed at the company's Ocotillo campus in Chandler.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/intel-expands-arizona-footprint-with-20b-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-24T20:29:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-19T08:48:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Fab-42.-Image-courtesy-of-Intel-1-300x233-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"233\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/intel-expands-arizona-footprint-with-20b-investment\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/intel-expands-arizona-footprint-with-20b-investment\/\",\"name\":\"Intel Expands Arizona Footprint With $20B Investment - 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