Intel will build two new facilities, injecting around $20 billion of value into Ohio’s economy. DeWine claimed Intel’s project will be the largest single private sector investment in Ohio’s history, with the potential to generate 20,000 jobs.
Initial reports stated that one facility would be built near Columbus, Ohio, but Lt. Gov. Jon Husted clarified that Intel planned to build two factories in Licking County by 2025.
"The factories will have Intel’s most advanced process technologies and will help reconfigure the global semiconductor supply chain," Husted tweeted, noting that the facility will be Intel’s "most advanced semiconductor manufacturing facility in the world."
DeWine hailed the project as having a "nationwide impact."
"Decades of offshoring chip manufacturing led to supply-chain disruptions in the U.S. that crippled major sectors of the economy during the pandemic," DeWine tweeted. "#IntelOhio will help reverse this trend."
President Biden claimed the investment as a major win for his effort to ramp up domestic manufacturing, especially in light of the supply chain crisis, which heavily affected microchip distribution and subsequent manufacturing efforts.
"We're making contracts to make sure we have access to them, and we are doing things that -- we're finding out here in the United States we have assets we didn't know we had, in terms of raw material," Biden told reporters regarding plans to increase onshoring operations. "This is a truly historic investment in America and American workers."
Intel’s investment is part of its pledge to invest over $100 billion in manufacturing as part of its bid to regain its place as the top chip producer after stumbling in 2020 to fall behind Nvidia Corp. and Samsung Electronics Co.
DeWine will speak more about the project Friday afternoon during an event that will be broadcast on Facebook.