Intel will soon invest billions here, Kahlon tells ecosystem panel
Finance Minister Moshe Kahlon, speaking at the Ecosystem Haifa conference, said, “Yesterday we talked with representatives of Intel at the Ministry of Finance. Intel will shortly invest billions of dollars in Israel. This is a decision we have worked on for a year and a half, and we were waiting for it. I met an Intel Inc. vice president when we began the discussions, and I’m happy that the decision has been made to invest in Israel.
“It’s a compliment to the Israeli economy and broadcasts a positive message to the world about investment in Israel when Intel invests billions of dollars here and creates hundreds of high-quality jobs. The State of Israel will benefit from this investment,” Kahlon said on Thursday.
In response, Intel said, “No comment.”
According to sources at Intel, no project of the order of size of billions of dollars is planned for the next two to three years. Intel recently completed the expansion of its plant at Kiryat Gat at a cost of $6 billion.
Or Shahaf, director of the Haifa Economic Corporation, announced the launch of a venture capital fund based in Haifa. “The response to the call for proposals to set up a NIS 100 million venture capital fund in Haifa that we published at the direction of the mayor has been unprecedented, and a venture fund will shortly be established in the city.”
The Ecosystem Haifa conference is part of an effort by Erel Margalit’s Yozma Leumit (“National Initiative”) organization, in collaboration with Mayor Yona Yahav, aimed at turning the Lower City in Haifa into a focus of innovation and enterprise in digital healthcare. (Globes/TNS)