It was reported last month that Intel was close to signing a deal with the Italian government to build a packaging and assembly plant at a cost of $5 billion. Several regions in Italy have shown strong interest in Intel’s projects, including Apulia, Lombardy, Piedmont, Sicily, and Veneto.
According to Reuters, although Intel considered many locations when choosing a location, Piedmont and Veneto in northern Italy finally entered the final list. After extensive deliberation, Intel decided in early September to choose the town of Vigasio in the Veneto region. This is an unassuming town in northern Italy with a population of just 7,500 people, located about 14 kilometers southwest of Verona.
The source said that Intel chose this location because it has a good transport network connection to its new fab in Magdeburg, Germany, which is about 1,000 kilometers and a 10-hour drive away. The reason why Intel has not announced the news for a long time may be related to the political situation in Italy, so as not to affect the recent elections.
If all goes according to plan, Intel’s new packaging and assembly plant will begin operations between 2025 and 2027, providing 1,500 full-time jobs, and adding 3,500 local jobs in related industries. The project will be supported by government funds and is expected to account for 40% of the cost, and there will be other subsidies or concessions in the future.