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News in brief

May 4, 2021 at 2:01 a.m.

Intel to spend $3.5B

for N.M. chip plant

RIO RANCHO, N.M. -- Intel plans to invest $3.5 billion in its New Mexico microchip plant to fuel "a new era of innovation" and advanced computing, executives said Monday, as demands increase for the chips used in nearly all modern devices.

Intel executives, joined by Gov. Michelle Lujan Grisham and other politicians at the plant in the Albuquerque suburb of Rio Rancho, shared details of the company's global strategy as it looks to reclaim the top spot in the semiconductor sector.

Multibillion-dollar expansions also are underway at the company's sites in Arizona, Oregon, Ireland and Israel.

Meeting the demand for more manufacturing and advanced packaging systems for microchips is more critical than ever as more people are working from home and as many parts of education and communication have gone virtual, said Keyvan Esfarjani, the company's senior vice president for manufacturing and operations.

"The world is continuing to count more and more on advanced semiconductor technologies," he said, "and Intel is absolutely the enabler."

The Santa Clara, Calif.-based company recently reported first-quarter earnings of $3.36 billion, topping expectations. Intel is the only company currently producing chips in the U.S.

-- The Associated Press

Trade with Colombia

is focus of webinar

A free webinar about doing business with Colombia will be held May 19.

Melvin Torres, director of Western Hemisphere trade for the Arkansas World Trade Center, will interview Dr. Carlos Ronderos, regional director of the World Trade Center of Latin America, to explore the highlights of the free-trade agreement between the U.S. and Colombia.

The webinar will be held at 9 a.m., and registration and access information can be found on the Arkansas District Export Council website, exportarkansas.org.

The primary economic indicators for the South American country and the tariffs, rules of origin and tax frameworks for investors from the United States will be the topics discussed.

The webinar is hosted by Arkansas Manufacturing Solutions in partnership with the Arkansas District Export Council and the Arkansas World Trade Center.

-- John Magsam

Index jumps 15.34,

closes day at 617.59

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Monday at 617.59, up 15.34.

"The S&P 500 and the Dow Jones Industrial Average closed higher on Monday thanks to strong earnings results, while the Nasdaq saw some weakness in some high-flying growth stocks," said Chris Harkins, managing director at Raymond James & Associates.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

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