Intel reportedly hints at multi-billion-dollar subsidies on planned EU and US factories
Pat Gelsinger, Intel’s new CEO, has been quoted as stating that the company would require a subsidy of €8 billion (~US$9.7 billion) in total prior to building a new foundry in Europe (most likely located in Germany, Belgium, Luxembourg or the Netherlands). Furthermore, it may ask the US government for a public incentive of a similar magnitude in order to help make the envisioned Arizona plant a reality.
This is hardly the first time Intel has been associated with the extraction of public subsidies in exchange for siting its corporate buildings in certain locations; however, it is the first report of the OEM assigning a specific dollar (or euro, as in this case) value to such a measure.
On the other hand, Intel has subsequently denied that Gelsinger meant to put that precise a figure out there. Nevertheless, the company may still maintain that the EU (and the US) may need to make these kinds of outlays in order to decrease their reliance on semiconductor imports from predominantly Southeast Asia-based companies.