Intel Corp is planning to invest $20 billion to build the world largest chip-making plant in Ohio. This is an attempt to boost the chips manufacturing capacity amid the ongoing shortage of semiconductor chips.
The world is facing a global shortage of semiconductor chips and it is affecting the everything from smartphones to cars. As an effort to regain its status as market leader, Intel is now planning to setup a new mega plant in in New Albany, Ohio. The chip maker giant says that they will build at least two semiconductor fabrication plants. They have acquired a 100 acres site where intel will research, develop, and manufacture its most cutting-edge computer chips. The Ohio state administration is considering this move positively. Ohio Governor Mike DeWine said the move is a message to China. “Because this is about national security is so vitally important that we make these chips right here in the United States of America”.
3,000 Company Jobs and 7,000 Construction Jobs
The project will kick start during this year and it is expected to be completed by 2025. Moreover, it will create at least 3,000 new jobs at Intel. Another 7,000 construction jobs affiliated with the project. Subsequently, the facility will support tens of thousands of additional jobs for suppliers and partners, Intel and local and state officials said Friday.
More Potential Investment is on Way
The move is part of Chief Executive Officer Pat Gelsinger’s strategy to restore Intel’s dominance in chip making. Another objective is to reduce America’s reliance on Asian manufacturing hubs, which have a tight hold on the market. The investment could grow to $100 billion with eight total fabrication plants and would be the largest investment on record in Ohio, he told Reuters. Dubbed the silicon heartland, it could become “the largest semiconductor manufacturing location on the planet”. Pat further added to his statement.
Biden’s Plan to Cater Chips Shortage Challenge
Gelsinger reiterated on Friday he expected the chip shortages to persist into 2023. In wake of chip shortage challenge, Biden administration aims to persuade Congress to approve $52 billion in subsidy funding. House of Representatives would soon introduce a bill on competitiveness to help bolster semiconductor investment and supply chains. U.S. House Speaker Nancy Pelosi announced this during late January 2022.
As part of its turnaround plan to become a major manufacturer of chips for outside customers, Intel broke ground on two factories in Arizona in September.
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