Dubbed IM Flash, the plan is to expand a factory in Lehi which is just south of Salt Lake City and create 200 jobs.
It appears that Intel and Micron have seen how well NAND chips are used in digital music devices, digital cameras and mobile phones and thought "we'll be having some of that".
Intel, being Intel, would not move unless it managed to obtain a ton of sweeteners from the local government to set up shop.
It was not surprising, then, that the announcement of the project came from local politician, Utah Governer Gary Herbert.
Herbert proudly announced the new jobs and that the taxpayer had funded yet another Intel initiative - and said the State will award IM Flash incentives to create them.
Herbert said it was all to do with Utah's business-friendly environment, although according to the Idaho Statesman, the board of the Governor's Office of Economic Development approved economic-development tax-increment financing for IM Flash.
The joint venture will receive a $45.9 million tax incentive if it fulfills certain requirements IM Flash promised to meet.
State officials claim that the fabrication plan is expected to generate $153 million in new tax revenue over 10 years.