The giant computer chipmaker Intel has decided to reverse its previous plan to shut down operations in Jerusalem and instead will build a new plant. Intel was highly criticized for previously announcing it would close down its Jerusalem plant while receiving huge government subsidies for investing in its new facility in Kiryat Gat, north of Be'er Sheva.
The Knesset Subcommittee on Intel, the Tax Authority and the Investment Promotion Center agreed on a new plant to close the Intel operation in the city and build a new one, which will employ hundreds of people. Intel will receive tax breaks of millions of dollars spanning over 10 years in addition to a $525 million grant.