money money money
I think you're being overly negative on this investment. You're not comparing like with like when you compare investment in fabrication facilitites with investment in R and D and product development. The 7billion + is being invested in manufacturing and fabrication facilities which are very very very expensive. For the product R and D all you need is an office and a computer and some engineers. You seem to be getting dazzled and distracted by the headline numbers.
The fact that intel still want to expand and hire R and D engineering jobs in Ireland is very encouraging. It's no consolation to those that are losing their jobs in leixslip but they're not the same type of jobs that are being created in shannon.