(MENAFN- Robotics & Automation News) Intel to invest $20 billion in building two new chip factories in Ohio
February 16, 2023 by mark allinson leave a comment
intel has announced plans for an initial investment of more than $20 billion in the construction of two new leading-edge chip factories in Licking County, Ohio.
The investment will help boost production to meet the surging demand for advanced semiconductors, powering a new generation of innovative products from Intel and serving the needs of foundry customers as part of Intel's IDM 2.0 strategy.
As the largest single private-sector investment in Ohio history, the initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs over the course of the build, and support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners.
To support the development of the new site, Intel pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programs in the region.
The groundbreaking for the construction took place a few months ago, with US President Joe Biden in attendance.
Pat Gelsinger, CEO of Intel, seen on the left in the main picture, next to President Biden, played host at the event.
According to Keyvan Esfarjani, executive vice president and chief global operations officer at Intel,“Future Chip Demand Demands Future Capacity”, as his article on the company website asserts.
Esfarjani writes:“Best-in-class semiconductor facilities – or fabs – take three to five years to build. And that's after you have the land, the construction team and the vision for where that capacity is most needed.
“We believe Europe and the US are regions that can support and would benefit from stronger semiconductor ecosystems.”
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