$3.5 billion dollar expansion will result in thousands of high paying jobs for the community
SANTA FE - Following today's announcement regarding the $3.5 billion dollar expansion of Intel's microchip facility in Rio Rancho, Senator Craig Brandt (District 40-Sandoval) released the following statement:
"This investment and expansion by Intel is the breath of fresh air our city, county, and state desperately needed, and I thank Intel for their show of confidence in Rio Rancho's future. We need to turn the corner in this state. We are now facing the worst growth numbers in state history, but today, we can all celebrate the fact that New Mexico is finally reopening for business and the people of Sandoval County are ready to get to work."
The investment is set to create 1,000 new construction jobs, $550 million dollars in infrastructure expansion, and 700 new jobs. Intel New Mexico employees' average total compensation, as of the end of 2020, was $145,000 per year including salary, benefits, and bonuses.