Intel to invest $5 billion in cutting-edge manufacturing facility in Arizona

The world's biggest maker of computer chips, Intel, announced that it will ratchet up its manufacturing capacity as it prepares for a major global expansion.

Intel, which was recently recognized as the greenest U.S. company for its renewable energy initiatives, plans to construct a $5 billion factory in Arizona; according to the company, the manufacturing center will use the latest technological breakthroughs to ensure the facility operates as efficiently as possible.

Intel's microchips power myriad models of computers from different brands and the company is looking to take advantage of the uptick in global demand for its products. The technology giant said in October it will spend between $6 billion to $8 billion over the next few years to develop new manufacturing centers in Arizona and Oregon. Moreover, Intel plans to hire an additional 8,000 construction workers to realize its goal.

Intel produces a majority of its chips domestically, with roughly 75 percent of its chips developed in the U.S., The New York Post reports. Intel hopes its increased manufacturing capacity will help it fight off rivals like Advanced Micro Devices and Globalfoundries, the latter of which just broke ground on a $7 billion chip-manufacturing facility in New York.