Five things: Intel Corp. semiconductor plants and training effort in Ohio
Construction is underway for two new semiconductor plants in New Albany, Ohio, marking a significant step forward in Intel’s ambitious expansion plans. Situated on a sprawling 1,000-acre site within the New Albany International Business Park in Licking County, these plants are poised to transform the region into a technological powerhouse.
Intel’s investment extends beyond brick and mortar, with the company committing $50 million to a state training program aimed at preparing individuals for the 3,000 new positions expected to be created at the plants. These roles will encompass a wide range of technical, engineering, administrative, and support functions, providing opportunities for diverse skill sets and backgrounds.
The scale of the project is immense, with an estimated $28 billion earmarked for construction. Already, the endeavor has created employment opportunities for 7,000 construction workers, with 1,000 individuals contributing to the project daily. The sheer magnitude of this undertaking underscores its significance not only for the local economy but also for the broader semiconductor industry.
Intel’s commitment to Ohio extends beyond mere infrastructure development. Through a preliminary agreement with the US Department of Commerce, the company stands to receive substantial financial support, including up to $8.5 billion in direct funding from the CHIPS and Science Act, access to $11 billion in federal loans, and a tax credit of up to 25% on qualified investments exceeding $100 billion. This partnership underscores the government’s recognition of the pivotal role that semiconductor manufacturing plays in driving innovation and economic growth.
Looking ahead, Intel’s investment in Ohio holds the promise of further expansion, with plans for the construction of up to eight plants. If fully realized, this ambitious vision could see Intel’s total investment in the state reaching a staggering $100 billion, cementing its position as a cornerstone of Ohio’s burgeoning technology sector and solidifying the region’s status as a “Silicon Heartland.”
