NEW ALBANY, Ohio (WLIO) — Intel is pushing back the completion date of its $28 billion semiconductor project in New Albany, Ohio. The company now expects the plant to be finished by 2030 instead of 2025.
Initial construction has already begun at the Ohio location. The project received $1.5 billion in direct federal funding through the Biden administration in 2024. Intel says it wants to take a slower approach to ensure financing is secure.
In January 2022, Intel announced plans to build two plants in New Albany, which would create nearly 3,000 new jobs. Ground was broken in September, with President Joe Biden in attendance. The company said it is looking to make Ohio the "Silicon Heartland," with investments in education to train the workforce needed for high-tech jobs.
A Wall Street Journal report says Intel has struggled to find customers for its chips as rival manufacturers have surpassed them in developing faster chips with smaller transistors.
