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Intel Launches $3.5 Billion Initiative to Support Investment in U.S.-Based Growth-Oriented Industries

Strategic Insights

— 2 min read

Intel President and CEO Paul Otellini announced a comprehensive $3.5 billion initiative to support investment in U.S.-based growth-oriented industries, with a commitment to significantly increase jobs available for recent college graduates. The Invest in America Alliance, led by Intel and supported by leading venture capital firms and corporations, aims to anchor the nation's competitiveness on the global stage by fostering innovation and job creation.

Key Takeaways:

  • Intel has committed $3.5 billion to invest in U.S.-based technology companies over the next 2 years, targeting key innovation and growth segments such as clean technology, information technology, and biotechnology.
  • The Invest in America Alliance includes commitments from 17 technology and other corporate leaders to increase their hiring of college graduates, with some companies planning to double their graduate hiring over 2009 levels.
  • The alliance aims to create 10,500 jobs for graduates across a range of positions, including engineering, computer science, financial analysis, marketing, and sales.
  • Intel Capital has announced the $200 million Intel Capital Invest in America Technology Fund to support the alliance's goals.
  • The initiative is part of Intel's broader commitment to improve the US manufacturing facilities, with a $7 billion investment announced last year that supported 7,000 high-wage, high-tech manufacturing jobs and more than 4,000 contract jobs.

Statistics:

  • $3.5 billion: The total amount committed by Intel and leading venture capital firms to invest in U.S.-based technology companies over the next 2 years.
  • 24: The number of leading venture capital firms joining Intel in the Invest in America Alliance.
  • 17: The number of technology and other corporate leaders committing to increase their hiring of college graduates.
  • 10,500: The estimated number of jobs to be created for graduate hires across a range of positions.
  • 12 million: The estimated number of U.S. jobs provided by venture-backed companies in 2008 (11% of private sector employment in the United States).
  • $6.2 billion: The total value of investments made by Intel Capital in U.S. businesses over the past two decades.
  • 1,350: The number of investments made by Intel Capital in U.S. businesses over the past two decades.
  • 2009: The year used as a comparison for graduate hiring levels for companies committed to the Invest in America Alliance.

Sources:

  • Intel Corporation
  • The Brookings Institution
  • Intel Capital
  • Accenture
  • Adobe Systems Incorporated
  • Autodesk
  • Broadcom Corporation
  • CDW LLC
  • Cisco
  • Dell
  • eBay, Inc.
  • EMC Corporation
  • GE
  • Google, Inc.
  • HP
  • Liberty Mutual Group
  • Marvell Semiconductor Inc.
  • Microsoft Corporation
  • Yahoo!

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