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Intel to receive $20bn from US government to supercharge semiconductor manufacturing
21 March 2024
Image: uflypro via AdobeStock - stock.adobe.com
The US government is to provide chip company Intel with nearly $20 billion in grants and loans to help it to build new semiconductor manufacturing facilities, in addition to funds for research and development.
Making the announcement on Wednesday (20 March), US President Joe Biden said the move would create 20,000 new construction jobs in the country.
The funding comes through the bipartisan 2022 CHIPS and Science Act, which offers subsidies for the research, development and manufacture of chips.
Intel is planning to invest more than $20 billion in the construction of two new chip factories in Ohio, spanning nearly 1,000 acres in Licking County, just outside of Columbus. The site can accommodate a total of eight chip factories.
The US government’s support for the construction of new domestic semiconductor ‘fabs’ comes as it attempts to reduce its reliance on China and Taiwan for chip manufacturing.
Intel is also expected to modernize its sites in New Mexico and Oregon, as well as expanding operations in Arizona where rival Taiwan Semiconductor is also building a new fab.
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