Total investment could grow to as much as $100B over next decade, US technology giant says
US technology giant Intel on Friday announced that it will invest more than $20 billion in the construction of two new leading-edge chip factories in the state of 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 the company’s IDM 2.0 strategy,” said a press release by the company.
“At full buildout, the total investment in the site could grow to as much as $100 billion over the next decade, making it one of the largest semiconductor manufacturing sites in the world,” it added.
Pat Gelsinger, the CEO, said the move 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,” he added.
Mike DeWine,Ohio governor, said the new facilities will create thousands of good-paying jobs in the state.
The statement noted that 3,000 Intel jobs and 7,000 construction jobs will be created.