Intel announced a plan to invest $1.2 billion in its Costa Rican operations over the next two years, covering the development of next-generation technologies and infrastructure upgrades to power the country’s chip sector.
In a statement, Intel explained the investment will help its Costa Rican operations maintain the highest standard to cement its role as a key player in the semiconductor sector, which is experiencing growing demand.
The cash injection further reaffirms its commitment to the country’s technological development goals, Intel added. It plans to use the budget to update infrastructure and technical and engineering skills, aid development of future products and further invest in local talent.
The company also pledged to promote job creation in the fields of science, technology, engineering and mathematics.
Intel has a 3,300-strong workforce in Costa Rica, with operations spanning across its 26,000 square metre plant.
Intel’s investment follows a deal in July between the US State Department and Costa Rica to explore semiconductor supply chain opportunities.