ICYMI: Intel’s $20 billion investment in Ohio chip factories said to be the state’s largest ever

“The White House’s announcement Friday of a $20 billion investment in semiconductor manufacturing marked the administration’s latest effort to combat a global shortage of computer chips that has hobbled manufacturing and fueled inflation.

“The commitment by tech giant Intel to build two chip factories in Ohio will dramatically boost domestic supplies of a component that is increasingly vital to nearly every stripe of manufacturing, President Biden and Intel Chief Executive Pat Gelsinger told a news conference.”

KEY POINTS:

  • The two new factories near Columbus will create 3,000 Intel jobs and about 7,000 construction jobs, the company said, adding that those numbers could grow if Intel opts to continue building out the site, which can accommodate eight chip factories in all.

  • The Ohio move marks the company’s first big commitment to the Midwest, and is likely to draw additional tech companies to the region. Ohio Senator Sherrod Brown (D) said the high-tech investment will “fundamentally remake manufacturing in the Midwest.”

  • Gov. Mike DeWine (R) said an investment of this scale means that “from now on, any company any place that’s thinking about opening a new plant will simply have to give Ohio a good look.”

  • Other large chipmakers have announced plans to expand in the United States, although some have said the speed of their investments will depend on passage of $52 billion in federal subsidies that have not yet cleared Congress.

The $20B investment was well-received in Ohio:

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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