Stacy Smith, CFO of Intel, notes in the CFO.com article below that education of the U.S. workforce has been steadily deteriorating. â€œMath and science curricula in primary-school systems in the United States are comparatively weak, he said, and the population of university students pursuing math, science, and engineering has dropped.â€ According to Smith, the American Recovery and Reinvestment Act of 2009 focused on public works and was a good step, but doesnâ€™t come close to Chinaâ€™s stimulus bill, which focused on broadband and wireless infrastructure to close the digital divide.
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Intel CFO Sees U.S. Losing Battle for High-Tech Jobs
by Vincent Ryan
April 22, 2010
In the fourth quarter of this year, chipmaker Intel’s new wafer-fabrication plant in the city of Dalian in Northeast China, a $2.5 billion capital investment three years in the making, will come online. The factory will produce chipsets to support Intel’s microprocessor business and will boast a workforce of 1,200 people.
Intel received a typically rich package of grants and tax incentives from China in order to build the plant there, according to Stacy Smith, the company’s CFO. “When we are thinking about building a factory, almost every government of a sizable, mature economy reaches out to us and provides financial incentives,” he told CFO.
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