Intel has released a third-party report titled “Intel’s Impacts on the US Economy.” This report claims to estimate the economic impact of Intel on the U.S. economy and the states where Intel has its largest U.S. presence: Arizona, California, New Mexico, and Oregon. The impact is defined in terms of employment, labor income, and gross domestic product using data from the fiscal year 2019.
Introducing the report, Intel CEO, Pat Gelsinger, said, “We are also the only company that has built leading edge fabs in the U.S. during the last five years. Unlike many companies, Intel’s intellectual property still resides here at home. We are making significant investments in U.S. manufacturing and R&D over the next several years. And Intel’s technology is helping the U.S. to build better by supporting the development of smart infrastructure to address the nation’s economic and security needs.”
Intel says it has used the IMPLAN model, an input-output model based on federal government data to estimate Intel’s overall economic impact. four types of economic impacts attributable to Intel were quantified: direct, indirect, induced, and distribution channel.
Key findings of the report are:
- In 2019, Intel employed an average of 51,900 full-and part-time workers in the United States throughout the year. Each job at Intel supported 13 other jobs elsewhere in the US economy.
- Intel’s total impact on US labor income was $57.7 billion in 2019.
- Intel’s total impact on US GDP was $102.0 billion in 2019.
To read the detailed report, click here.