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HomeCosta RicaIntel Investing $1.2 Billion in Costa Rica

Intel Investing $1.2 Billion in Costa Rica

In an announcement sure to excite both economic leaders and everyday citizens here, the multinational tech giant Intel stated this week its plans to invest $1.2 billion in Costa Rica over the next two years.

Intel executives delivered the news directly to Costa Rican authorities while meeting with President Rodrigo Chaves in Washington D.C. during his official U.S. visit. This enormous investment demonstrates Intel’s continued dedication to operations in Costa Rica.

According to Intel, the $1.2 billion will upgrade facilities and prepare operations to enable cutting-edge technologies for upcoming next-generation semiconductor products.

“Our goal is for Intel’s sites in Costa Rica to maintain the highest global standards as we keep playing a key role in meeting rapidly growing demand for semiconductors worldwide. Working with governments to increase competitiveness and efficiency across our operations is also vital,” said Ileana Rojas, Intel’s Global Vice President of Design Engineering and General Manager.

The timing aligns closely with last month’s cooperative agreement between Costa Rica and the U.S. aiming to transform Costa Rica into a regional powerhouse for semiconductor research, manufacturing, and talent development. That agreement opens access to U.S. funding starting in 2024 to position Costa Rica as a hub for this critical high-tech industry.

With the U.S. Chips and Science Act enacted in 2022 to boost American semiconductor competitiveness versus China, Intel’s commitment demonstrates Costa Rica’s strategic importance in this global technological race.

Intel CEO Patrick Gelsinger called the U.S. act the most meaningful American industrial policy since World War II. Costa Rica is now set to play a key role in this modern-day industrial revolution.

Intel’s existing facilities in Costa Rica include a Research and Development Center, Processor Assembly and Testing unit, and Global Services Center.

Per Rojas, Intel currently employs 3,300 direct staff and over 5,000 contractors here. Their facilities encompass 26,000 square meters of factory space and 17,000 square meters of engineering labs.

This influx of $1.2 billion will undoubtedly advance Costa Rica’s tech capabilities and provide many high-quality jobs. Both government and Intel officials have expressed a cooperative spirit that bodes well for Costa Rica’s future as Intel’s commitment further cements the country’s reputation as a prime location for global high-tech investment and talent.

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