Israel Offering Intel $700m Grant, Without Checking Merits First

Hopes Intel will build new plant here, not elsewhere; but didn't first check whether the investment would actually benefit Israel.

The state has informally promised U.S. chip maker Intel a $700 million grant if the company build a new semiconductor plant in Israel. Knowledgeable sources say, however, that the government did not first examine the economic feasibility of its proposal. Furthermore, the offer comes just a few weeks after the Finance Ministry convened a committee to revisit corporate benefits that could...