Intel already has a plant there
The Israeli government has approved a grant for Intel in the amount of $3.2 billion.
The grant will be allocated by Intel as part of the company's construction of a new plant, which will cost $25 billion. This will be Israel's largest investment in any company.
Against this news, Intel shares rose by about 3%. Intel's new plant will be built in Kiryat Gat, where the company already has a chip manufacturing plant. And it is located 42 km from the Gaza Strip. It is worth remembering that Israel continues to conduct military operations, but this, apparently, does not bother investors much.
Intel, whose investment in this case will be calculated for a period of more than five years, will pay corporate tax at a rate of 7.5%. The normal tax rate is 23%, but according to the Israeli Development Investment Promotion Law, companies receive greater benefits.