Intel Corporation announced plans Wednesday to invest $7 billion into a high-volume semiconductor factory in Chandler. The factory is expected to be the most technologically advanced semiconductor factory in the world.

The factory, Fab 42, will produce microprocessors to power data centers and smart and connected devices. The completion of the factory will create an estimated 3,000 high-tech, high-wage jobs, according to Intel.

The announcement was made by Intel CEO Brian Krzanich and U.S. President Donald Trump at the White House on Wednesday.

The factory will take three to four years to complete, and Intel expects it to create 10,000 long-term jobs in Arizona when accounting for indirect impact on businesses that will support the factory’s operations.

Fab 42 is targeted to use the 7 nanometer manufacturing process, which Intel states will be the most advanced semiconductor process technology used in the world.

“The chips made on the 7 nm process will power the most sophisticated computers, data centers, sensors and other high-tech devices, and enable things like artificial intelligence, more advanced cars and transportation services, breakthroughs in medical research and treatment, and more,” Intel stated in its announcement.

Gov. Doug Ducey applauded the announcement, saying Intel’s expansion is huge news for Arizona.

“Intel’s commitment to Arizona speaks volumes about our workforce, advanced educational infrastructure, business environment and commitment to technology and innovation. This represents a core area of Arizona expertise, advanced engineering and manufacturing. We are thrilled about this announcement and what it means for Arizonans,” Ducey stated.