Intel, the microchip manufacturer, said it is to create 1,600 new permanent hi-tech jobs at its campus in Co Kildare.
The company said they have invested over $7bn at its manufacturing facilities in Leixlip over the past three years.
Intel has been in Ireland since 1989 and currently employs just under 5,000 people in the country.
Eamonn Sinnott, Vice President of Manufacturing and Operations and General Manager of Intel Ireland, said the company is accelerating investment in Europe and supporting the EU's ambition of having 20% of the world's silicon chips manufactured locally.
"Since 1989, we have invested $15 billion in current manufacturing capacity in Europe, ensuring that Intel is one of the largest and most advanced semiconductor manufacturing operations in the region," he said.
"But we're not stopping there. In an effort to more than double Intel's available manufacturing space in Ireland and Europe, we have invested an additional $7 billion from 2019 to 2021 in an ongoing expansion."
"It will also drive economic growth in the region, creating 1,600 permanent high-tech jobs once complete and over 5,000 construction jobs," he said.
The construction of the new fabrication plant or FAB is about half way through the estimated four to five-year time frame.
Mr Sinnott also signaled that there will be additional opportunity for further investment in the region, arising from the announcement that the company plans to set up a separate foundry business to manufacture chips designed by others.