Intel warns Ohio growth may very well be delayed as a result of Congress is dragging its ft on funding
Patrick Gelsinger, Intel CEO, on the WEF in Davos, Switzerland on May twenty third. 2022.
Adam Galica | CNBC
A big chip manufacturing unit at the moment within the early phases of being constructed outdoors of Columbus, Ohio, might see its scope scaled again or development delayed relying on what Congress does with the CHIPS Act, Intel mentioned in a press release on Thursday.
The facility was introduced in January and could be essentially the most vital growth of U.S.-based semiconductor manufacturing in years. Intel estimated the plant might price as a lot as $100 billion and dedicated an preliminary funding of $20 billion.
“”We are excited to start development on a brand new modern semiconductor manufacturing plant in Ohio and grateful for the help of Governor DeWine, the state authorities and all our companions in Ohio. As we mentioned in our January announcement, the scope and tempo of our growth in Ohio will rely closely on funding from the CHIPS Act,” an Intel spokesperson said in a statement.
“Unfortunately, CHIPS Act funding has moved extra slowly than we anticipated and we nonetheless do not know when it would get performed. It is time for Congress to behave so we will transfer ahead on the velocity and scale now we have lengthy envisioned for Ohio and our different initiatives to assist restore U.S. semiconductor manufacturing management and construct a extra resilient semiconductor provide chain,” the assertion continued.
The Biden administration has hailed the Ohio manufacturing unit for example of the administration’s efforts to extend manufacturing within the U.S.
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