Intel Israel today published data summarizing its operations in 2021, as part of the company’s corporate responsibility report. Intel Israel’s exports rose to $8.1 billion last year, slightly above $8 billion in 2020. The Kiryat Gat plant was responsible for 70% of Intel’s exports while the development centers were responsible for the other 30%.
While $8.1 billion is a new record, it only represented a rise of just over 1%, while Intel’s exports from Israel rose 21% in 2020 and 70% in 2019. Intel attributes the small rise in exports to the fact that the new plant in Kiryat Gat (Fab 28) is now operating at full capacity and there are no options for increasing production. Intel is building a new plant in the city (Fab 38) at a cost of $10 billion.
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Intel’s exports represented 11% of Israel’s overall exports in 2021 compared with 14% of the country’s overall exports in 2020. This fall reflects the record year that Israel’s tech exports enjoyed, so that Israel’s dependence on Intel as the country’s biggest employer was slightly reduced.
Intel’s workforce did not significantly rise last year. The company has 14,000 employees in Israel including 2,000 at Mobileye. However, when the completion of the acquisition of Tower Semiconductor is completed, Intel Israel will have another 1,000 employees. Intel also bought two Israeli startups last year – Granulate for $650 million and Screenovate for $100 million.
According to Intel, the company purchased goods for $2.2 billion in Israel in 2021 as part of its reciprocal procurement commitments, up 25% from its procurements in 2020. The reason for the rise was construction work on the new Kiryat Gat fab.
Published by Globes, Israel business news – en.globes.co.il – on July 6, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
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