Intel Investing In Costa Rica
The first stone was placed on April 26th, 1997. Immediately after, the talent of 950 Costa Ricans started operation of the company in the country where Intel started microprocessor Assembly and Test operations in March 1998 until late 2014. After that manufacturing operations ceased and the site transformed into a Research & Development facility.
Since 1997, Intel in Costa Rica has supported the growth of the country and catalyzed Foreign Direct Investment. Now with more than 2000 employees they currently work on the design, prototype, test and validation of integrated circuits, software solutions, and corporate global services including Finance, Human Resources, Procurement, Sales, Marketing and Information Technology.
How and why Intel selected Costa Rica is really only the beginning of a revealing case history of both lead players competing in a dynamic and difficult global environment. Nine years after the initial project was announced, hindsight affords a fresh perspective on Intel Costa and its numerous impacts, many of which were unexpected.
As the largest private project in Costa Rica on record, the Intel investment had a profound impact. Yet its example is as relevant in demonstrating Costa Rica's successful approach to securing an individual project and sustaining momentum in growing the electronics cluster and other FDI as in its scale. Beyond its obvious direct effects on the country's economy in terms of gross domestic product (GDP), foreign direct investment (FDI), and trade growth, Intel's investment decision was the catalyst for a realignment of Costa Rica's competitive platform as an investment location.
Costa Rica worked with many resources and with a novel sense of urgency to enhance the country's technical education, incentives law, regulation, and infrastructure. Over time the effects could be an improved investment climate, a more focused, strategic approach to investment promotion, a developing technology cluster, and newly secured FDI projects in other targeted sectors. The Intel investment also reached far into the local community, affecting education and the country's knowledge base, workplace standards and business culture.
Costa Rica has the biggest R&D centre in the country and one of the most diverse and complex global service centres.
Intel Costa Rica has been characterized for being an asset to the community, a big contributor to the academia and recognized as one of the most environmentally responsible companies in the country.
Intel will invest $1.2 billion in Costa Rica over the next two years, the company said in a press release on Wednesday.
The announcement comes after the U.S. State Department said in July that it would partner with Costa Rica's government to support the Costa Rican semiconductor sector through the 2022 Chips and Science Act.
