RIO RANCHO, N.M. (AP) — Computer chip manufacturer Intel is scheduled Monday to announce a $3.5 billion investment in its plant in New Mexico.

Intel top executives will be joined by Gov. Michelle Lujan Grisham and other politicians at the plant in the Albuquerque suburb of Rio Rancho for a news conference where they will detail the investment and the new jobs that it will bring. Intel already employs around 1,800 at the site.

The announcement will mark one of the largest single investments by the company since it opened the plant in 1980. In all, Intel has invested more than $16 billion in manufacturing capabilities in New Mexico over the past four decades.

It also will be a shot in the arm for the state as it looks to rebound from the economic challenges that have stemmed from the coronavirus pandemic.