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Intel CEO Brian Krzanich said that regardless of the administration in the White House, it is important to have an open dialogue and to build a relationship in every country that his company operates in.
Krzanich met with President Trump on Feb. 8 and followed the meeting with an announcement that Intel would invest $7 billion in a factory that will employ up to 3,000 people in Chandler, Arizona. The investment would complete plans for a plant that was previously started.
According to Krzanich, Trump's position on taxes is what inspired him to revive the factory. Under the current tax system in the U.S., relative to overseas, Krzanich said it would cost approximately $2 billion more over the span of 10 years.
"The tax plan that the administration is putting forward would drastically reduce that … we are betting on that tax plan coming into fruition," Krzanich told "Mad Money " host Jim Cramer on Monday.
The CEO opened up to Cramer and described what it was really like behind closed doors at the White House, stating that he considered it to be a way to start a dialogue with the new administration.
"It was a good chance to sit down and talk about everything from immigration, tax reform, our position on diversity and women and underrepresented minorities in the workplace. All of those areas we were able to talk to both the president but also really substantive time with his staff," Krzanich said.
Krzanich confirmed that after his meeting with Trump, he spent an hour and a half in the White House speaking to Gary Cohn, Ivanka Trump and Reince Priebus, among others, about various subjects.
Intel also issued a letter to its employees and stakeholders clarifying why it was important to meet with Trump. The next day, Krzanich held a meeting with the organization to talk to them about why he did it.
"We are not going to change as a company who we are. We stand for those values that we believe in," Krzanich said.
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