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Israel to Offer 1 bn USD Grant to Intel for Expansion in the Country
January 31, 2019
Israel’s Finance Minister Moshe Kahlon said that the Israel government will offer Intel Corp a state grant of around one billion USD for expanding its operations in the country. He said that once Intel comes to Israel and invests 10 billion USD it may receive a grant of 9% in a way that 91% of it stays there.
Kahlon said that Intel has already informed him that it will invest around 40 billion shekels (11 billion USD) to set up a new factory in the country.
Intel is one of the biggest employers in Israel and some of its newest technologies are developed here.
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