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U.S. Invests Nearly $20 Billion in Intel's Semiconductor Expansion

The investment aims to bolster domestic chip production, create thousands of jobs, and enhance national security.

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Intel President and CEO Pat Gelsinger discusses how Intel will be investing $20 billion to build two computer chip factories in Jersey Township, in Licking County. The company recently learned it will be available for $8.5 billion in federal subsidies for its efforts across the country.
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Overview

  • The U.S. Department of Commerce has reached a preliminary agreement with Intel, providing up to $8.5 billion in grants and $11 billion in loans under the CHIPS and Science Act.
  • President Biden's visit to Intel's Ocotillo campus in Arizona highlights the administration's commitment to revitalizing America's semiconductor manufacturing industry.
  • The investment aims to create nearly 30,000 jobs across Intel facilities in Arizona, Ohio, New Mexico, and Oregon, with significant impacts on local economies and workforce development.
  • Intel's expansion is part of a broader effort to secure the U.S. supply chain and enhance national security by increasing domestic production of semiconductors.
  • This announcement marks the fourth and largest preliminary agreement under the CHIPS and Science Act, reflecting ongoing efforts to boost U.S. competitiveness in the global semiconductor industry.