Microchip and semiconductor company Intel (INTC) says it plans to invest $4.6 billion U.S. in a new assembly and test facility located in Wrocław, Poland.
The billion-dollar investment is part of Intel’s efforts to build its capacity to manufacture its own microchips and semiconductors and those of third parties.
The U.S. chipmaker has previously announced plans to build a major chip complex in Germany along with facilities in Ireland and France.
Intel is taking advantage of the European Union’s relaxed funding rules and subsidies as the continent tries to attract foreign technology companies.
The facility in Poland will employ 2,000 people and create several thousand additional jobs during the construction phase, said intel in a written statement.
Design and planning for the new chip plant in Poland is set to begin immediately. Intel expects the new facility to be operational by 2027.
Intel’s stock has declined 4% in the last 12 months to trade at $35.82 U.S. per share.
