"Today's announcement reflects the next tranche of the continued advancement of Moore's Law and a further commitment to invest in the future of Intel and America," Intel president and chief executive officer Paul Otellini said in a statement. "The most immediate impact of our multi-billion-dollar investment will be the thousands of jobs associated with building a new fab and upgrading four others, and the high-wage, high-tech manufacturing jobs that follow." While Intel generates approximately three quarters of its revenues overseas, it maintains three quarters of its microprocessor manufacturing in the US.
Intel's first 22nm microprocessors, codenamed Ivy Bridge, will hit production in late 2011. The company hopes they will further boost performance levels and power efficiency, enable sleeker device designs, and result in longer battery life, all at a lower cost.