Washington and Madrid. US processor giant Intel plans to invest $20 billion in building two chip factories in Ohio (US), which it hopes will create up to 10,000 employees in the region, it said Friday in a statement.
With this investment, the company hopes to increase its production enough to meet the high demand for semiconductors. These two new plants: “They will help build a more resilient supply chain and ensure reliable access to semiconductors for years to come,” said the company’s CEO, Pat Gelsinger.
In the first phase of this project, Intel will directly employ 3,000 employees. For its part, construction will mean temporary creation of 7,000 jobs. The tech company estimates that the production process in the factories will also involve hiring “tens of thousands” of workers locally.
United States President Joe Biden on Friday welcomed the “historic” investment of Intel. “This is a truly historic investment in America for American workers,” Biden said.
The president promised that his government would continue to “use all available tools (…) to enhance” economic resilience and industrialize more in the United States. In the end, it is about national security and economic security.”
The shortage of semiconductors is one example of product shortages that reduce production and make goods more expensive in the inflationary United States.
The complex in which the two plants will be built could house up to six other plants, so Intel advanced that the total investment could reach $100,000 million over the next decade, becoming one of the world’s largest chip production complexes.
Planning has already begun for the two plants and their construction will begin at the end of 2022. To start production it will be necessary to wait until 2025.
As part of this investment, Intel plans to invest $100 million over the next decade in alliances with Ohio universities and other educational entities to develop joint research projects and create specific programs of study in certain undergraduate majors.