Big news out of the White House today where Intel CEO Brian Krzanich announced $7 billion in funding for the “Fab 42” manufacturing facility in Chandler, Arizona:

This is great news, but it’s also news we’ve heard before from Intel. President Obama visited this same factory in 2012 when Intel made similar promises:

Obama even visited the plant in 2012, to much fanfare and applause:

The president was pretty excited to see a giant crane helping to build the factory on his visit:

That would be this crane:

Transcript here:

Now, last year, I had the chance to tour one of Intel’s plants in Oregon. And basically, the engineers explained what happens inside these factories, and I pretended that I understood — (laughter) — what they were talking about. It’s true. We were on this tour and we were looking through these microscopes and you’d look at some little spots in the microscope and you’d say, well what’s that? And they’d say, well, that’s atoms. (Laughter.) Really? And it was so remarkable that my trip director who was with me — he said, this stuff is like magic. (Laughter.) How do they do this?

And while I was there, Intel’s CEO, Paul Otellini, someone whose advice I rely on as a member of my Jobs Council — (applause) — announced — he announced that Intel would be building a new factory here in Arizona. (Applause.) A factory which will turn out some of the fastest and most powerful computer chips on Earth. (Applause.) A factory so big, I’m told that right there is the world’s largest land-based crane — (applause) — can pull up to, what is it, 4,000 tons? Is that right, Preston?

MR. OTELLINI: Yes, sir.

THE PRESIDENT: Four thousand. So not only that, but Paul informs me that the microscopes that they’re going to have here will be twice as good as the ones they had — (laughter) — up in Oregon. So I decided I had to check this out for myself — because, honestly — first of all, who wants to miss out a chance to see the crane? (Laughter.) That thing is huge.

Intel “mothballed” the plant in 2014 citing increased competition: