A new semiconductor assembly and testing facility will be built by Intel close to Wroclaw, Poland, at a cost of up to $4.6 billion.

According to the technology giant, this is a component of a multibillion-dollar investment drive across Europe to increase chip capacity.

In an effort to take advantage of the European Commission's loosened funding rules and subsidies as the EU looks to reduce its reliance on U.S. and Asian supply, the U.S. chipmaker announced plans to build a sizable chip complex in Germany along with facilities in Ireland and France last year.

According to a statement from the company, the Polish facility will employ 2,000 people and generate thousands more jobs through supplier hiring and construction-related hiring.

Polish officials were slightly more eager to win this site, according to Intel CEO Pat Gelsinger, who made this statement during a press conference.

Several nations have been competing to entice Intel to invest in their areas, and some, like Germany, which has already received a commitment from Intel, have been negotiating the level of subsidies they can offer.

The Polish Prime Minister, Mateusz Morawiecki, referred to Intel's factory as "the largest greenfield investment in Poland's history."

The business, which has been operating in the nation for 30 years and employs 4,000 people, claimed that it chose Poland because of the talent pool and infrastructure there, as well as the location's proximity to both its planned factory in Germany and its site in Ireland.

By 2027, the facility is anticipated to be operational.