Commerce Awards Intel $8.5 Billion from SWACCA-Supported CHIPS and Science Act to Build Four New Chip Manufacturing Plants in Ohio, Arizona, New Mexico, and Oregon
The U.S Commerce Department announced that it reached terms to grant Intel up to $8.5 billion from the SWACCA-supported CHIPS and Science Act to build four new chip plants in Ohio, Arizona, New Mexico, and Oregon.
The federal funding is motivating Intel to invest approximately $100 billion in U.S. projects over the next five years. The Commerce Department says these projects are expected to create over 30,000 good-paying jobs. The Intel investments will put the U.S. on track to producing 20% of the world’s leading edge chips by the end of the decade.
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