intel’s $20-billion ohio factory could become world’s largest chip plant

Intel’s $20-Billion Ohio Factory Could Become World’s Largest Chip Plant

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Intel’s $20-Billion Ohio Factory Could Become World’s Largest Chip Plant Updates:

Intel’s Ohio Factory Updates:  On the display is an Intel Corp. chip. Bloomberg provided the image. Intel Corp. plans to invest $20 billion in a chip-making hub on the outskirts of Columbus, Ohio, that it hopes would become the world’s largest semiconductor manufacturing facility.

Intel Corp. plans to invest $20 billion in a chip-making hub on the outskirts of Columbus, Ohio, that it hopes would become the world’s largest semiconductor manufacturing facility. Intel announced Friday that it will begin building on two manufacturing units on a 1,000acre property in New Albany, which it expects to be operational by 2025.

According to the firm, the plan will rely on cutting-edge technologies and result in an enhanced American share of the global chip supply chain. According to the governor, the project will be the greatest single private sector firm investment ever in Ohio, creating more than 20,000 jobs in the state, including 3,000 direct Intel employees paying an average of $135,000 per year with benefits.

The initiative is a step toward Intel regaining its manufacturing prowess, which the long-dominant processor maker has been losing in recent years. On Friday morning in New York, Intel stock climbed 1.9 percent. Intel CEO Pat Gel singer has been outspoken about the need to create more chip plants in the United States and Europe, where production of critical electronic components has plummeted.

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intel’s $20-billion ohio factory could become world’s largest chip plant

To reverse the industry’s rising concentration in East Asia, he claims, a rebalance of output is required. The pandemic-induced supply chain crisis, as well as rising geopolitical tensions between China and the United States, have been cited by Gel singer as proof that Western governments need to find funding to entice chipmakers to relocate.

IN an interview, Gel singer stated that Intel is committing to developing in Ohio with its own finances and is anticipating that the US federal government would deliver on anticipated resources aimed at helping semiconductor manufacturing expansion. The CHIPs Act, a plan to offer nearly $50 billion in incentives to corporations willing to establish chip production in the United States, is currently being debated in Congress.

He added, “We’re placing our chips on the table.” With the help of the CHIPs Act, the new Ohio site will be built out “larger and faster. “For more than a year, the Biden administration and Congress have worked to alleviate a semiconductor shortage that has afflicted a wide spectrum of American industry, with few tangible achievements.

President Joe Biden has been sluggish to push for passage of the US Innovation and Competition Act, which contains CHIPs, while taking a blow for the broader supply chain problems that have plagued the economy. However, he and other officials, such as Commerce Secretary Gina Raimondo, have underlined the need to increase domestic output as a whole.

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Surekha V A

My name is Surekha Venkatesh , am from Shimoga, Karnataka. I am studying a Bachelor of commerce in Jnn college, Shimoga at Kuvempu University. I am interested in cycling, cooking and reading books. And I am capable of handling a variety of responsibilities in high-pressure situations.

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