(MENAFN- Caribbean News Global)
By Caribbean News Global
WASHINGTON, USA – US secretary of commerce Gina Raimondo and deputy secretary of commerce Don Graves released the following statements after Intel announced it would be investing $20 billion to build two semiconductor facilities outside Columbus, Ohio, and create 3,000 Intel jobs, and 7,000 construction jobs over the course of the build.
“This investment is a big win for Intel, for American manufacturing, and for American consumers who can look forward to lower prices as we bring home production of the semiconductors that keep our economy running . From his first day in office, president Biden has recognized that if we want to compete globally, we need to invest domestically. That investment begins with revitalizing our manufacturing economy, strengthening American supply chains, and bringing good-paying jobs back from overseas.
“I'd like to applaud Intel for this investment in our country and in the State of Ohio. Intel's work is essential to our efforts to rebuild America's chip building capacity and create the kinds of good-paying jobs that support a vibrant American economy. Other countries aren't waiting and every day we wait, we fall further behind. As commerce secretary, I want those jobs and those investments here in America. While we celebrate Intel's announcement today, it is more essential than ever that Congress move swiftly to pass the president's proposed $52 billion in funding for domestic semiconductor production as part of legislation similar to the US Innovation and Competition Act,” said secretary Raimondo.
Deputy secretary Don Graves, said: “The United States was once a leader in the production of semiconductor chips. But today, we account for only 12 percent of global production. This administration is proud of Intel's work to bring these good-paying manufacturing jobs to Central Ohio. If we are serious about increasing American competitiveness, protecting our economic security, and hitting president Biden's electric vehicle goals, it is imperative that we reinvest in this critical industry. This project is a crucial step in growing America's domestic chip manufacturing capacity.”
Related: Biden- Harris Administration Bringing Semiconductor Manufacturing Back to America
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