Chip giant, Intel, announced plans on Friday for an initial investment of more than $20 billion to construct two new semiconductor factories in the U.S. state of Ohio.
Construction of the two Intel processor factories in Licking County, Ohio was expected to begin in late 2022, with production coming online at the end of 2025.
The project site spans more than 400 hectares and is the largest single private-sector investment in Ohio history, according to the announcement.
The investment came amid surging demand for advanced semiconductors, a critical component in electronic devices.
Intel also pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programmes in the region.
Ohio Governor, Mike DeWine, said: “Intel’s new facilities will be transformative for our state, creating thousands of good-paying jobs in Ohio manufacturing strategically vital semiconductors, often called ‘chips’.
“Advanced manufacturing, research and development as well as talent are part of Ohio’s DNA.
“We are proud that chips, which power the future, will be made in Ohio, by Ohioans.’’
