Intel CEO: U.S. faces looming tech decline
Take factories. "I can tell you definitively that it costs $1 billion more per factory for me to build, equip, and operate a semiconductor manufacturing facility in the United States," The rub: Ninety percent of that additional cost of a $4 billion factory is not labor, but the cost to comply with taxes and regulations that other nations don't impose, Otellini said.
"Jobs told Mr. Obama that Apple employs 700,000 factory workers in China because it can't find the 30,000 engineers in the U.S. that it needs on site at its plants. "If you could educate these engineers," he said at the dinner, "we could move more manufacturing jobs here."