Chipmaker Intel said it will invest $20 billion to build a new factory in Ohio, in an attempt to help alleviate a global shortage of chips powering everything from phones to cars to home appliances while also signaling the giant company's commitment to manufacturing crucial technology products in the U.S.
The new Intel site is expected to create 3,000 company jobs and 7,000 construction jobs, and to support tens of thousands of additional jobs for suppliers and partners. Governor Mike DeWine says this is huge for the state of Ohio.
“This is our time. We have the opportunity to lead once again,” says Gov. DeWine. “Intel’s announcement today is a signal to China and to the rest of the world, from now on our central manufactured projects in this country will be made in the United States of America.”
Intel CEO Pat Gelsinger said two new chip "fabs" will reduce supply chain pressure while also bolstering U.S. national security and bringing more tech jobs to the region.
“This is the largest single private sector investment in Ohio history. Ohio now becomes the heart of the digital age and the digital future,” says Gelsinger. “Spanning nearly 1,000 acres, this new mega-site can accommodate a total of 8 chip factories over its life. Today we are starting the first two, with the clear intention to build more.”
Construction in New Albany is expected to begin late next year, with production coming online at the end of 2025.
