Robert Besser
28 Jan 2022, 10:23 GMT+10
SANTA CLARA, California: Chip maker Intel has announced that it will invest more than $20 billion in two new chip factories in Ohio, making the state the company's first new manufacturing location in 40 years.
The announcement came amidst the global chip shortage exacerbated by the COVID-19 pandemic.
Intel's investment will significantly expand U.S. semiconductor manufacturing capabilities. Much of the international tech industry currently relies on chip manufacturing in Asia.
Semiconductor chips are needed in the manufacturing of computers, smartphones, automobiles, home appliances and other common products.
In a statement, Intel CEO Pat Gelsinger said, "Today's investment marks another significant way Intel is leading the effort to restore U.S. semiconductor manufacturing leadership."
The California-based company said the project is the largest single private-sector investment in Ohio history, creating 3,000 Intel jobs and 7,000 construction jobs. Construction is expected to begin in late 2022 and chip production in 2025.
"Intel's actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come," Gelsinger added.
In a statement, Ohio Gov. Mike DeWine said the announcement is "monumental news for the state of Ohio."
"Intel's new facilities will be transformative for our state, creating thousands of good-paying jobs in Ohio manufacturing's 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," he added.
Intel also said it pledged an additional $100 million to help "build a pipeline of talent and bolster research programs in the region."
The news of Intel's investment in U.S. semiconductor manufacturing follows Samsung's announcement last year of it plan to build a $17 billion semiconductor factory in Austin, Texas.
Get a daily dose of Albuquerque Express news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Albuquerque Express.
More InformationSACRAMENTO, California: Sixteen migrants from Venezuela and Colombia, who had entered the United States through Texas, were transported to California ...
GRAND ISLE STATE PARK, Louisiana: Almost two years after Hurricane Ida struck the barrier island and destroyed most of its ...
YANGON, Myanmar - A regime court sentenced to death five people detained for their alleged involvement in a deadly August ...
HARTFORD, Connecticut: Following a state Senate debate and vote to approve Connecticut's most comprehensive gun legislation since the laws put ...
SPENCER, Massachusetts: Spencer, Massachusetts Fire Chief Robert Parsons has said that a June 2 fire that burned down a 160-year-old ...
MOSCOW, Russia: Journalists from countries that are "unfriendly" to Russia will be banned from covering this year's St. Petersburg International ...
NEW YORK, New York - U.S. stocks were divided on Wednesday, with the technology and industrial sectors parting ways.Tech stocks ...
HOLLYWOOD, California: More than tripling the debut of its 2018 animated original predecessor, Sony Pictures' "Spider-Man: Across the Spider-Verse" opened ...
PARIS, France: European plane manufacturer Airbus is reported to be close to a record agreement to sell 500 narrow-body jets ...
TRAVERSE CITY, Michigan: DuPont, Chemours and Corteva have reached an agreement to pay $1.18 billion to resolve complaints of causing ...
NEW YORK, New York - U.S. stocks were directionless Tuesday as investors had little to digest ahead of next week's ...
MENLO PARK, California: Facebook parent Meta has said that under a trial that could last through the end of June, ...