Intel Corp. announced plans today to invest more than $7 billion to complete the most advanced semiconductor factory in the world in Chandler.

The completion of the high-volume factory, known as Fab 42, will take three to four years and create 3,000 high-tech, high-wage Intel jobs for process engineers, equipment technicians and facilities support engineers and technicians.

Fab 42 is expected to create more than 10,000 long-term jobs in Arizona combined with the indirect impact on businesses that will support the factory’s operations, according to Intel.

Intel CEO Brian Krzanich made the announcement today during a meeting with President Donald Trump in the White House.

“Intel’s business continues to grow and investment in manufacturing capacity and R&D ensures that the pace of Moore’s Law continues to march on, fueling technology innovations the world loves and depends on,” Krzanich said. “This factory will help the U.S. maintain its position as the global leader in the semiconductor industry.”

Read the complete article from Phoenix Business Journal here