Intel building $20B Ohio chip facility amid global shortage

COLUMBUS, Ohio (AP) — Intel will invest $20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors used in everything from phones and cars to video games.

After years of heavy reliance on Asia for the production of computer chips, vulnerability to shortages of the crucial components was exposed in the U.S. and Europe as they began to emerge economically from the pandemic.

The U.S. share of the worldwide chip manufacturing market has declined from 37% in 1990 to 12% today, according to the Semiconductor Industry Association, and shortages have become a potential risk.

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Two chip factories on the 1,000-acre site in Licking County, just east of Columbus, are expected to create 3,000 company jobs and 7,000 construction jobs, and to support tens of thousands of additional jobs for suppliers and partners, the company and local and state officials announced Friday.

Construction is expected to begin this year, with production coming online at the end of 2025.

Shortages of chips have crimped the ability of U.S. automakers to produce vehicles and last year, General Motors was unseated by Toyota as the nation’s top-selling automaker for the first time.

The U.S. and Europe are pushing to aggressively build chip making capacity and reduce reliance on producers that are now mostly based in Asia.

U.S. Commerce Secretary Gina Raimondo applauded the announcement.

“Intel’s work is essential to our efforts to rebuild America’s chip building capacity and create the kinds of good-paying jobs that support a vibrant American economy,” she said.

The Intel project is the largest single private-sector investment in Ohio’s history, on par with an agreement in 1977 that brought Honda to central Ohio, where it now employs more than 14,000 people. The Intel jobs are expected to pay an average of $135,000 a year plus benefits, with the project slated to add $2.8 billion to the state’s annual gross product, Ohio Gov. Mike DeWine said in a statement.

Source: Associated Press

https://apnews.com/article/technology-business-lifestyle-games-video-games-cb3e3a36f48416a25b5d00baa405f91a

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