TECHNOLOGY giant Intel picked Ireland to design its next major chip processor line – selecting us ahead of keen competition from Israel, Malaysia and the US.
It is the first time that a major product from a global technology company has been designed here.
"All our Christmases and birthdays rolled into one when our CEO announced it," said Philip Moynagh, Intel's general manager for the processor in Kildare.
The chip goes into mass production next month and will power everyday items, from wearable technology such as smart watches to air conditioners.
It carries the words "designed in Ireland" on it. "We couldn't be more proud," said Mr Moynagh.
The announcement came as figures revealed US firms invested $130bn (€95bn) in Ireland between 2008 and 2012 – 14 times more than in China.