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Intel contributed $3.89 billion to Arizona’s GDP, report finds

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Posted at 8:57 AM, Apr 20, 2021

Intel contributed an excess of $3.89 billion to Arizona’s economy in 2019, according to a new report that measured the company’s economic impact on several Western states.

Intel Corp. (Nasdaq: INTC), which is based in Santa Clara, California, has its most significant direct economic impacts in Oregon, California, Arizona and New Mexico. All told, the company directly contributed $25.9 billion to the U.S. economy in 2019.

The report, which was researched by a third-party, found that Intel’s 52,000 employees contributed to more than $102 billion in both direct and indirect GDP impact on the total U.S. economy in 2019.

“While I am proud of the role Intel plays in fueling U.S. economic growth and development, I know there is more we can do,” Intel CEO Pat Gelsinger said in a statement accompanying the report. “We are committed to doing our part to ensure the U.S. continues to be the leader in semiconductor manufacturing. As we continue to invest in and strengthen the U.S. economy, I know Intel’s best days are ahead of us.”

Read more of this subscription-only story from the Business Journal.