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, 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.
Intel's stock dipped more than 1%, but it still outperformed the Nasdaq composite index, which fell nearly 2%.
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