By Hayley Ringle | Phoenix Business Journal
A new $600 million tax-exempt bond has been approved for Intel Corp. through Chandler’s Industrial Development Authority for improvements at its Arizona semiconductor manufacturing plants.
Intel plans to use the money toward capital expenses for certain environmental facilities in connection with portions of its Valley plants.
Chandler City Council unanimously approved the Industrial Development Revenue Bonds Feb. 27 in its consent agenda.
The project supports Intel’s $7 billion manufacturing expansion for its Chandler facilities, which is expected to create 3,000 new jobs and more than 10,000 long-term jobs in Arizona, according to city documents.
