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Intel Israel’s export nearly doubles over past year, reaching $6.6 billion

Intel Israel’s export nearly doubles over past year, reaching $6.6 billion

The company's workforce grew by almost 1,000 employees to 13,750, making it the largest private employer in the country

Meir Orbach | 10:06  25.06.2020
Intel Israel published on Wednesday its Corporate Responsibility Report for 2019-2020, revealing that the company's export reached $6.6 billion in 2019, an increase of $2.7 billion, or more than 40%, compared to the previous year. According to the report, Intel's export makes up 1.6% of Israel's GDP and 12.5% of the tech industry's overall export.

Intel Israel’s workforce grew by almost 1,000 employees to 13,750, making it the largest private employer in the country.

Intel Intel's Petah Tikva office. Photo: Reuters Intel

Intel acquired Tel Aviv-based artificial intelligence chip developer Habana Labs Ltd. for $2 billion last December, taking its total investment since entering Israel to $40 billion. In March 2017, Intel announced the acquisition of Jerusalem-headquartered automotive chip developer Mobileye for $15.3 billion.

As part of Intel Corporation’s strategy to help resolve global challenges and transform society from the inside, Intel Israel announced a series of commitments, including increasing the procurement from businesses owned by women, minorities, or located in the periphery. Intel Israel currently spends NIS 250 million (approximately $72.6 million) with diversified businesses and plans to double this amount to NIS 700 million ($203 million) by 2030. In July, Intel will start implementing a new training program meant to help small-to-medium businesses owned by women and minorities, or located in the periphery deal with the Covid-19 crisis with new capabilities and tools.

Intel also intends to increase the rate of women in tech positions at the company to 40%. Women currently account for 25% of Intel Israel's employees.

The company has also undertaken to buy 100% of the power it purchases from renewable sources. At present, 50% of the electricity consumed by Intel Israel is generated via green technologies.

"The goals to which Intel Israel has committed to in our Corporate Responsibility Report for 2019-2020 are very ambitious. They reflect our strong ambition, willingness, and need to take the lead in collaborations that will address the challenges no one can overcome alone," said Yaniv Garty, general manager of Intel Israel. "I am proud of the achievement we made so far. I do not doubt that Intel will continue to act as the driving force that it is, yielding a real value to Intel Corporation and Israel. We keep raising the bar for ourselves and commit to persist in a responsible, inclusive, sustainable, and enabling conduct in our operations and supply chain."

"The publication of Intel Israel's 14th consecutive CSR Report is a special landmark. It recaps a decade of unprecedented accomplishments we are proud of and ushers a new decade, in which we strive to stretch ourselves even higher,” Bella Abrahams, director of corporate affairs at Intel Israel, said. “As a company that attaches strong importance to transparency, the annual report serves the complete information of Intel Israel's work. We look forward to continuing leading the Israeli high tech industry in technological innovation, as well as in impactful social initiatives."
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