Science

#Biden to attend groundbreaking of Intel’s $20B Ohio plants

“Biden to attend groundbreaking of Intel’s $20B Ohio plants”

Biden to attend groundbreaking of Intel's $20B Ohio plants
This aerial image taken with a drone on June 9, 2022 shows a portion of land in Johnstown, Ohio, where Intel plans to build two new processor factories. The houses on the left are up for demolition. Intel Corp. plans a Sept. 9 groundbreaking for its planned $20 billion Ohio semiconductor operations with President Joe Biden giving remarks, the company and the the White House said Thursday, Aug. 25, 2022. Credit: AP Photo/Gene J. Puskar, File

Intel Corp. will break ground Sept. 9 on its planned $20 billion Ohio semiconductor facilities with President Joe Biden in attendance, the company and the the White House said Thursday.

When the company’s two factories, known as fabs, open in 2025, the facility will employ 3,000 people with an average salary of around $135,000. Building the fabs is expected to require 7,000 construction workers.

Total investment could top $100 billion over the decade with six additional fabs, Intel CEO Patrick Gelsinger has said. It’s Ohio’s largest ever private economic development project.

Biden will speak on “rebuilding American manufacturing” through recently passed laws boosting the semiconductor industry and U.S. infrastructure, the White House said.

Expanding semiconductor manufacturing domestically took on new urgency during the pandemic and as most production has shifted overseas. The U.S. share of the worldwide chip manufacturing market has declined from 37% in 1990 to 12% today, according to the Semiconductor Industry Association, and shortages have become a potential risk.

Biden to attend groundbreaking of Intel's $20B Ohio plants
The logo of semiconductor chip maker Intel is pictured at the Paris games week in Paris, Nov. 4, 2017. Intel Corp. plans a Sept. 9 groundbreaking for its planned $20 billion Ohio semiconductor operations with President Joe Biden giving remarks, the company and the the White House said Thursday, Aug. 25, 2022. Credit: AP Photo/Christophe Ena, File

To win the project, Ohio offered California-based Intel roughly $2 billion in incentives, including a 30-year tax break. Intel has outlined $150 million in educational funding aimed at growing the semiconductor industry regionally and nationally.


Wanted: 7,000 construction workers for Intel chip plants


© 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Citation:
Biden to attend groundbreaking of Intel’s $20B Ohio plants (2022, August 25)
retrieved 25 August 2022
from https://techxplore.com/news/2022-08-biden-groundbreaking-intel-20b-ohio.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.

For forums sites go to Forum.BuradaBiliyorum.Com

If you want to read more Like this articles, you can visit our Science category.

Source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close

Please allow ads on our site

Please consider supporting us by disabling your ad blocker!