202223 Jun

Intel warns Ohio factory could be delayed because Congress is dragging its feet on funding

Summary

As we said in our January announcement, the scope and pace of our expansion in Ohio will depend heavily on funding from the CHIPS Act," an Intel spokesperson said in a statement. The CHIPS Act has been stalled as lawmakers seek to work out differences between two competing versions of legislation passed in each chamber over roughly the last year. "If you travel 20 miles east of Columbus, Ohio, youll find 1,000 empty acres of land. It wont look like much, but if you stop and look closely, youll see a Field of dreams, the ground on which Americas future will be built. Most manufacturing of high-end chips currently takes place in Taiwan and South Korea, and U.S. officials say that increasing the amount of semiconductors fabricated on U.S. and European soil is important for national security.

Source: Cnbc

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