On March 16, 2022, Intel Corporation announced that it will build two chip factories in Magdeburg, Germany, as part of its multibillion-dollar investment framework in Europe. Intel will initially invest 17 billion euros in Magdeburg and expects planned investments in the EU to total as much as 80 billion euros over the next decade.

Intel announced that construction of two factories in Magdeburg is scheduled to start in the first half of 2023. This requires subsidy approval from the European Commission and necessary funding approval from Germany. If these requirements are met, the plant is scheduled to start production in 2027. In the long run, Intel could create around 3,000 high-tech jobs in Magdeburg, around 7,000 in the construction industry, and "tens of thousands of additional jobs with suppliers and partners."

Intel said "state-of-the-art semiconductors" will be produced at the two factories. Magdeburg will take advantage of an "important location": Thanks to good connections to motorways and airports, important suppliers and customers across Europe can reach the site of the factory, Eulenberg Industries, within a short period of time Area. The German federal government will provide a high level of financial support for this project.Editor/XingWentao