February 19, 2011 08:44 pm EDT

Intel to spend $5 billion on new 14nm fab in Arizona, create 4,000 new jobs this year

When Paul Otellini isn't too busy talking about being jilted by Nokia, he spends his time hosting presidents and splashing billions of dollars on new manufacturing facilities. Intel's CEO is wrapping his tumultuous week on a high note, having welcomed Barack Obama to Chipzilla's Oregon facility and treated the president to the happy news that Intel will invest $5 billion back into the US economy by building its most advanced fab yet -- which will introduce an impossibly small 14nm production process -- in Arizona, to begin operation in 2013. Construction starts in the middle of this year and is expected to create "thousands" of jobs, both temporary and permanent. Aside from that, Otellini has disclosed Intel's intention to create 4,000 new jobs in the US, mostly in R&D and product development. Music to Obama's ears, we're sure.

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