Intel to build 2 Ohio semiconductor factories worth $20B | Dump Trucks Charlotte NC

Columbus Ohio Dump Truck Company Brief:

• Semiconductor giant Intel is investing $20 billion into two new chip factories near Columbus, Ohio, marking its first new manufacturing site in 40 years, according to an announcement by the company.
• The facility will be spread over nearly 1,000 acres and can eventually contain up to eight semiconductor factories, according to the release. The build is scheduled to break ground in late 2022, with production ready by 2025, and Intel says the project will generate about 7,000 construction jobs.
• In order to bolster the facility's development, which the release claims is the largest single private-sector investment in Ohio's history, Intel is also promising an additional $100 million to local research and educational institutions to grow their talent pipeline.

Dump Trucks Columbus OH Insight:

In addition to construction positions, the new facility will generate approximately 3,000 Intel jobs and tens of thousands of long-term jobs in the area, according to the release. Total investment in the project could eclipse $100 billion over the course of the next decade as Intel seeks to "create a new epicenter for advanced chipmaking in the U.S."

"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 United States to strengthen the global semiconductor industry," said Pat Gelsinger, the CEO of Intel, in the release.

Last year, Intel announced the expansion of its Arizona factories, which broke ground in September. Intel cited supply chain issues and a semiconductor shortage as reasons for its investment in the infrastructure. Arizona is a hotbed for semiconductor production, and last year industry rival Taiwan Semiconductor Manufacturing Co. broke ground on its own $12 billion facility in the state.

While Intel aims to eventually build one of the largest semiconductor manufacturing sites in the world in Ohio, not everything is set in stone. Keyvan Esfarjani, Intel senior vice president of manufacturing, supply chain and operations, said in the release that the scope and pace of the company's expansion there would heavily depend on funding from the Chips for America Act, otherwise known as the CHIPS Act and a large part of USICA, which the Senate passed last year and the semiconductor industry lobbied vigorously for. House Majority Leader Nancy Pelosi said an equivalent bill is coming soon, per Reuters.

"Ohio is an ideal location for Intel's U.S. expansion because of its access to top talent, robust existing infrastructure, and long history as a manufacturing powerhouse," Esfarjani said in the release.