Pool ushered into the Oval Office, where POTUS was seated at his desk and Intel CEO Bryan Krzanich was standing to his right. Four others were standing to the left of POTUS.
"You've never so much paper on the president's desk," POTUS joked, referencing stacks of papers there. "We've been negotiating lots of bills for our country which would be tremendous," he added.
POTUS said Krzanich called weeks ago and coordinate an announcement for jobs and new technology in Arizona.
Krzanich announced a $7 billion investment in advanced factory in Chandler, Ariz. The completion of the factory, Krzanich said, would create the advanced semi-conductor chips.
"Intel is very proud of the fact that a majority of our manufacturing is here in the US, and the majority of or research and development is here in the US, while over 80 percent of what we sell is sold outside of the US," Krzanich said.
As a result of the investment, Krzanich said, the factory will employ about 3,000 high-tech jobs and over 10,000 people in the Arizona area supporting the factory.
Krzanich was handed and help up a circular disk he says is an example of the wafers that will be built in factories. "This is the future of computing," Krzanich said.
Asked if Intel will bring back jobs overseas, Krzanich said the investment "is actually about expansion, this is about growth."
POTUS called the investment "a great thing for Arizona."
"We're very happy and I can tell you the people of Arizona are very happy," POTUS said.
Krzanich said Intel held off on "doing this investment until now" in response to question on when decision was made.
Asked by Reuters why Intel is making this announcement at the White House, Krzanich said "it's really in support of the tax and regulatory policies that we see the administration pushing forward." Krzanich called that policy "advantageous."
Pool ushered out of Oval Office at 12:57.