Intel's Shannon design centre posts 10% rise in pre-tax profits
Pre-tax profits at the Shannon-based R&D arm of chip giant Intel increased by 10 per cent to $5.4 million (€4 million) in 2011.
Researchers at Intel’s Irish Design Centre are engaged in developing advanced silicon technology and new figures show that revenues at the firm increased by 9.5 per cent from €54.1 million to €59.3 million in the 12 months to the end of December 2011.
The figures show the firm has 217 staff, with 173 engaged in R&D.
The average salary pay-out including pension provision for the year was $97,998.
Shannon Development’s annual report for 2011 revealed that the agency paid €3.5 million in grant aid funding to Intel Shannon during that year bringing to a total of €9.57 million paid in grant aid to the firm by the agency.
The payments to Intel’s operation in 2011 accounted for over half of the grant aid payments made by Shannon Development to all firms in the Shannon Free Zone in 2011.