Funding has been secured for the massive buildout of a semiconductor campus based in Chandler, Arizona.
The Intel Corporation has announced that it has reached an agreement with the Toronto-based Brookfield Asset Management to substantially expand the technology company’s longstanding Ocotillo campus.
Together, the two companies are committed to spending upwards of $30 billion on the project, with Intel responsible for 51% of that investment, and Brookfield, one of the largest alternative investment management companies in the world, kicking in 49%.
In 1980, the Santa Clara, California-based Intel established the campus, which today comprises some 700 acres. That campus is located on the southwest side of Chandler at 4500 S. Dobson Road and is Intel’s largest manufacturing site in the US.
In a statement, David Zinsner, chief financial officer of Intel, said the agreement with Brookfield is “a first for our industry, and we expect it will allow us to increase flexibility while maintaining capacity on our balance sheet to create a more distributed and resilient supply chain.”
A timetable for when construction on the campus expansion will begin has not yet been announced.
By Garry Boulard
