Tuesday, October 19, 2010

Government Doesn't Solve Problems

"Government IS the problem" 
 ~ Ronald Reagan

The view from the Conservative vantage point is always to empower the real job creators by removing the disincentives that discourage real, lasting growth. Not census workers, employed by the government for a month or two. And certainly not $483M to create 483 jobs in the auto UNION, as we saw a few months ago. Washington, D.C. has no ideas for business. The condition of the Social Security system and the Post Office are all the evidence any investor would possibly need. Reagan had that right. Government needs to step aside and let The People pass.


As written by CNN staff, highlighted by me.

Intel plans 1,000 high-tech jobs in 2 states

By Aaron Smith, staff writer

NEW YORK (CNNMoney.com) -- Intel announced Tuesday that is investing up to $8 billion in microchip manufacturing plants that could create up to 1,000 permanent high-tech jobs in Arizona and Oregon.
Intel said it will spend between $6 billion and $8 billion to fund a new development fabrication plants in Oregon and to upgrade four existing plants in Oregon and Arizona. The plants will manufacture "next-generation" 22-nanometer microprocessors, or chips, the company said.
The company said this will support the creation of 800 to 1,000 permanent high-tech jobs as well as 6,000 to 8,000 construction jobs. 
Intel also said the investment will allow it "to maintain its current manufacturing employment at these U.S. sites."
Intel spokeswoman Lisa Malloy said the new plant will be built in Hillsboro, Ore., near Portland, where the company already has a significant presence. Of the four plants slated for upgrade, two are in Hillsboro and two are in the greater Phoenix area.
Intel, based in Santa Clara, Calif., said it generates three quarters of its revenue from overseas markets, but employs three quarters of its chip-making employees in the United States.
"It does cost a bit more to build one of these factories from scratch in the U.S.," Intel chief executive Paul Otellini told CNN's Ali Velshi in a live interview.
But he said labor costs are not the main problem -- grants from foreign countries are the biggest incentives for U.S. companies to build factories overseas. He said the U.S. government should offer more incentives to build plants in America.
"Right now, I see the U.S. out of the worst in terms of the recession," he said. "I see slow growth for the next year or two. 
[But] I see a regulatory environment 
that is still very difficult to build factories, to get permits."
Intel's (INTCFortune 500) stock was down slightly, but it still outperformed the Nasdaq composite index, which fell about 1%To top of page

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