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Electronic payment technology manufacturer, which recently acquired Israeli company Lipman Electronic Engineering, negotiates with government the establishment of plant that will provide employment for 1,000 workers

Tani Goldstein Published: 10.16.06, 22:19

The electronic payment solutions company VeriFone will found a factory in Israel set to employ 1,000 workers, and will also relocate its research and development center to the country, sources at the Industry, Trade and Labor Ministry confirmed Monday.
VeriFone, which is considered a global leader in the development of electronic payment technologies, has recently acquired the Israeli
firm Lipman Electronic Engineering for some USD 800 million.
Head of the investment center at the Industry, Trade and Labor Ministry, Hezi Zaig, estimated that VeriFone will transfer its R&D activity, and some of its production to Israel, to a new plant that will be established in the Jerusalem area, with an initial USD 300 million investment. The research operations will be linked with Lipman's technology.
Zaig believes that some 1,000 workers will be employed at the factory. VeriFone CEO Douglas Bergeron, who arrived in Israel Sunday, is set to meet with Prime Minister Ehud Olmert, Finance Minister Abraham Hirchson and Industry, Trade and Labor Minister Eli Yishai in the coming days, to discuss the terms of the deal.

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Tel Aviv:
94 approved
48 proposed
37 under construction

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We need to boom Jerusalem a little......
people are migrating out of Jerusalem....