Intel's Italian packaging and testing plant plan hits a snag

Intel originally planned to invest $5 billion in Italy to build a packaging and testing plant, which was expected to create 1,500 jobs for Intel and 3,500 jobs for suppliers. The plan was also supported by Italian government funds, with subsidies expected to account for 40% of the construction costs, as well as other subsidies or incentives. However, Intel's expansion in Italy was hindered by the failure of the acquisition of Tower Semiconductor, an Israeli company with ties to Italian STMicroelectronics. The acquisition failed due to the lack of approval from Chinese authorities, affecting Intel's business expansion plans in Italy.