Intel will invest more than $20bn in two new chip manufacturing factories in Ohio, US, to meet surging demand for advanced semiconductors.
Set to be a new epicentre for advanced chipmaking in the Midwest, the 1,000-acre site will mark the largest single private-sector investment in Ohio history.
With construction set to begin this year, Intel hopes production will begin at the end of 2025.
To support the development of the new site, Intel has pledged an additional $100m towards partnership with educational institutions to bolster research programmes in the region.
Pat Gelsinger, CEO of Intel, said, “Today’s investment markets another significant way Intel is leading the effort to restore US semiconductor manufacturing leadership.”
“Intel’s actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come. Intel is bringing leading capability and capacity back to the US to strengthen the global semiconductor industry.
“These factories will create a new epicenter for advanced chipmaking in the U.S. that will bolster Intel’s domestic lab-to-fab pipeline and strengthen Ohio’s leadership in research and high tech.”
Intel believes the initial phase of the project will create 3,000 Intel jobs and 7,000 construction jobs.
Mike DeWine, Governor of Ohio, added, “Today’s announcement is monumental news for the state of Ohio. Intel’s new facilities will be transformative for our state, creating thousands of good-paying jobs in Ohio manufacturing strategically vital semiconductors, often called chips.”
“Advanced manufacturing, research and development, and talent are part of Ohio’s DNA, and we are proud that chips – which power the future – will be made in Ohio, by Ohioans.”