Biden to attend groundbreaking of Intel's $20B Ohio plants

Biden to attend groundbreaking of Intel's $20B Ohio plants
This aerial image taken with a drone on June 9, 2022 shows a portion of land in Johnstown, Ohio, where Intel plans to build two new processor factories. The houses on the left are up for demolition. Intel Corp. plans a Sept. 9 groundbreaking for its planned $20 billion Ohio semiconductor operations with President Joe Biden giving remarks, the company and the the White House said Thursday, Aug. 25, 2022. Credit: AP Photo/Gene J. Puskar, File

Intel Corp. will break ground Sept. 9 on its planned $20 billion Ohio semiconductor facilities with President Joe Biden in attendance, the company and the the White House said Thursday.

When the company's two factories, known as fabs, open in 2025, the facility will employ 3,000 people with an average salary of around $135,000. Building the fabs is expected to require 7,000 construction workers.

Total investment could top $100 billion over the decade with six additional fabs, Intel CEO Patrick Gelsinger has said. It's Ohio's largest ever private economic development project.

Biden will speak on "rebuilding American manufacturing" through recently passed laws boosting the semiconductor industry and U.S. infrastructure, the White House said.

Expanding semiconductor manufacturing domestically took on new urgency during the pandemic and as most production has shifted overseas. 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.

Biden to attend groundbreaking of Intel's $20B Ohio plants
The logo of semiconductor chip maker Intel is pictured at the Paris games week in Paris, Nov. 4, 2017. Intel Corp. plans a Sept. 9 groundbreaking for its planned $20 billion Ohio semiconductor operations with President Joe Biden giving remarks, the company and the the White House said Thursday, Aug. 25, 2022. Credit: AP Photo/Christophe Ena, File

To win the project, Ohio offered California-based Intel roughly $2 billion in incentives, including a 30-year tax break. Intel has outlined $150 million in educational funding aimed at growing the regionally and nationally.

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