What you need to know
- Intel broke ground today on its "Silicon Heartland" chipmaking factories near New Albany, Ohio.
- Intel executives, federal, state, and local officials, and Ohio governor Mike DeWine were joined by U.S. President Joe Biden for the groundbreaking ceremony.
- Intel also announced $17.7 million in funding for eight proposals spread out over Ohio research and education institutions.
- This is part of Intel's grand plan to invest more than $20 billion into the new chipmaking epicenter.
Intel, joined by U.S. President Joe Biden, Ohio governor Mike DeWine, and numerous federal, state, and local officials, broke ground today on its new "Silicon Heartland" chipmaking facilities near New Albany, Ohio. Plans for the "largest silicon manufacturing location on the planet" were first announced January 2022, with the factories expected to begin production by 2025. Two factories are initially planned, although the 1,000-acre plot can theoretically hold up to eight factories.
Intel claims it will invest up to $100 billion into the project over the next decade, including an initial $20 billion investment. This mega-factory is a part of Intel's IDM 2.0 strategy, wherein it will begin manufacturing processors for other companies rather than holding all chips under its own umbrella.
Intel CEO Pat Gelsinger had this to say:
"Today marks a pivotal moment in the journey to build a more geographically balanced and resilient semiconductor supply chain. The establishment of the Silicon Heartland is testament to the power of government incentives to unlock private investment, create thousands of high-paying jobs, and benefit U.S. economic and national security. We would not be here today without the support of leaders in the administration, Congress and the state of Ohio, who share a vision to help restore the United States to its rightful place as a leader in advanced chipmaking."
Intel also announced a first run of funding worth $17.7 million going out to Ohio-based research and education institutions. This includes more than 2,300 scholarships to more than 80 schools, as well as eight major proposals within Ohio. Intel claims it will reach about 9,000 students with the education needed to enter the semiconductor workforce. This is the first part of Intel's planned $50 million commitment to education in Ohio over the next decade.
Intel expects the new chipmaking campus to create 7,000 construction and 3,000 long-term jobs. The Ohio-based campus joins Intel's Arizona chip factories on which construction began last year, as well as existing New Mexico and Oregon facilities.
