Tuesday, October 4, 2022
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President Joe Biden gave a speech after the $20 billion semiconductor facility for Intel was officially opened

On the occasion of the groundbreaking of Intel’s new $20 billion semiconductor factory, one of the first domestic chip-making facilities following the recently approved CHIPS and Science Act, President Joe Biden visited Ohio on Friday.

As part of its plans to invest $100 billion in Ohio over the next ten years, Intel broke ground on what the corporation has called the “largest silicon manufacturing location on the planet” on Friday. The facility is anticipated to contain two distinct factories and, once the completion, employ 3,000 personnel, according to the corporation, which has stated that the project might require more than 7,000 personnel to build.

Following a global shortage of semiconductors, the bipartisan agreement to promote American technology in opposition to rising Chinese competition in the tech sector aims to safeguard US economic and national security interests. Device manufacturers now find it increasingly challenging to get semiconductors for their goods due to the worldwide chip supply chains being disrupted by the coronavirus pandemic that began in 2020. As workplaces disappeared and more individuals began working from home, demand for these products increased at the same time.

“WE NEED TO MAKE THESE CHIPS RIGHT HERE IN AMERICA TO BRING DOWN EVERYDAY COSTS AND CREATE GOOD JOBS”

The $280 billion technology and science package were signed by Biden last month, who referred to it as “a once in a generation investment in America itself.”

Other significant chip makers have announced plans for additional domestic semiconductor facilities following the bill’s passing. Intel CEO Pat Gelsinger joined Biden for the event, which he said signified the end of the Rust Belt and the start of a “Silicon Heartland.” Micron said earlier this month that it will spend $15 billion to construct a new manufacturing facility in Idaho. Wolfspeed revealed on Friday that it will invest $5 billion in a brand-new semiconductor factory in North Carolina.

Biden stated Friday at the Intel facility: “As we saw during the pandemic when the factories that make these chips shut down. The global economy comes to a halt. We need to make these chips right here in America to bring down everyday costs and create good jobs.”

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