Intel to build $20B Ohio factory amid chip shortage
Intel announced Friday it is investing $20 billion to build chip factories in Ohio amid a shortage of computer chips worldwide.
The "mega-site" will be constructed outside of Columbus on 1,000 acres of land in Licking County, according to a statement from Intel. Construction is expected to start near the end of 2022 and be completed in 2025.
The project will initially employ 7,000 construction jobs and 3,000 Intel jobs with thousands more long-term jobs expected in the future.
The factories will boost production to help meet demand for semiconductors that are increasingly difficult to obtain.
"Today's investment marks another significant way Intel is leading the effort to restore U.S. semiconductor manufacturing leadership," CEO of Intel Pat Gelsinger said.
"Intel's actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come. Intel is bringing leading capability and capacity back to the United States to strengthen the global semiconductor industry. These factories will create a new epicenter for advanced chipmaking in the U.S. that will bolster Intel's domestic lab-to-fab pipeline and strengthen Ohio's leadership in research and high tech," he added.
The company is also investing $100 million into Ohio schools and the U.S. National Science Foundation to develop and hire skilled workers.
The factory site will be the first new manufacturing site the company has invested in in more than four decades.
"Today's announcement is monumental news for the state of Ohio," Ohio Gov. Mike DeWine (R) said. "Intel's new facilities will be transformative for our state, creating thousands of good-paying jobs in Ohio manufacturing strategically vital semiconductors, often called 'chips.' Advanced manufacturing, research and development, and talent are part of Ohio's DNA, and we are proud that chips - which power the future - will be made in Ohio, by Ohioans."
