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Chip maker Intel said it will invest $20 billion to build a new factory in Ohio, 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.
Watch the White House event in the player above.
President Joe Biden used Intel’s Ohio announcement to push a $52 billion bill awaiting House approval that would invest in the chip sector and help ensure more production occurs in the U.S.
“We are going to invest in America,” Biden said at the White House. “We’re investing in American workers. We’re going to stamp everything we can, ‘Made in America,’ especially these computer chips.”
READ MORE: Intel says it will invest $20 billion to build Ohio computer chip facility
Construction is expected to begin this year, with production coming online at the end of 2025. The company is also investing an additional $100 million for an education pipeline to help provide jobs for the facility. Total investment could top $100 billion over the decade, with six additional factories, Gelsinger said.
Intel said one of the products it will make in Ohio is the Intel 18A, “among the most advanced chips ever made,” according to Forrester analyst Glenn O’Donnell. Those will likely be used in the high-end computers that are popular with video game enthusiasts and needed for the data centers run by tech giants like Amazon and Microsoft.
The move could also create a new technology hub in central Ohio as related businesses that support chip manufacturing open new facilities and bring expertise to the region.
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