With all of the debate around the job bill in D.C. these days it makes one wonder what will ultimately lead to a growing economy that is producing new jobs. At Intel we clearly understand that having a positive economic impact is a key ingredient of a successful corporate responsibility strategy. The question we have been mulling over is what is the appropriate role for us beyond our own economic performance and how we could help lead in the recovery.Paul Otellini, Intel’s CEO, has been a passionate and consistent voice calling for Corporate America to continue to do what has made our economy successful for generations — invest and innovate. There is no doubt that Government action is necessary, but it is also true that corporations must not just wait for government action and be willing to lead or complement government action. That’s what the recently announced Invest in America Alliance is all about. Led by Intel and supported by many other major Fortune 500 companies and venture capital firms the Alliance is focused on two things – supporting U.S. investment in growth-oriented industries and generating thousands of American jobs for college graduates. The Alliance announced today an investment of $3.5 billion over the next two years in U.S. based technology companies that have significant potential for innovation and growth, including the clean technology sector and to increase hiring goals in 2010 resulting in 10,500 new jobs for recent college grads. Why focus on new college grads? Today’s college graduates with the advanced degrees and technical skills in engineering and computer sciences may very well be the talent that will invent the world’s next technology breakthroughs. This effort ensures that many of them will not be sitting idle during this economic crisis, but instead will be helping the economy grow through the power of innovation. By emphasizing these hires in addition to the hiring Intel has planned for skilled, experienced people (check out Jobs at Intel for these opportunities.) we are hoping to do our part in creating long-term, sustainable jobs. Some folks may raise an eyebrow, because many of the companies included in the Alliance have in fact over the last few years reduced their workforces. For Intel, it is true, that we made the difficult decision in recent years to close older factories and to reduce our workforce as appropriate as part of a plan to shift resources to newer technologies and more efficient manufacturing. These decisions are never easy, but if the goal is to remain competitive and grow the economy then we must continue to innovate and wisely invest. That is why we announced last year a $7 billion investment in manufacturing facilities in the U.S. while also announcing the closure of some existing older technology factories. I am proud of my company for not only committing itself to action, but also for working with our industry to amplify the impact through joint action. Let’s hope that today’s announcement is just the beginning and others will follow suit creating an even bigger impact. And if you’re able, join us by investing in America and the future of our country.
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