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For the most part, fabs demand a highly-skilled labor force, which would be relatively expensive no matter where the fab is, though I would imagine labor would still be cheaper overseas -- in those relatively few markets where the workforce has the skills required.
There's a national security component to siting fabs too. To compete effectively, the US must be more innovative than its rivals. Given that, how much of our most innovative technology do we want to site overseas?
Sure, kudos to Intel, but Intel isn't in this to be a pollyanna. Grove was a shark. Barrett was a shark. Kzranich is a shark.
-- Brian Santo