HomeBusinessIntel announces $20B Ohio factory as Joe Biden fights semiconductor shortage

Intel announces $20B Ohio factory as Joe Biden fights semiconductor shortage

Intel plans to speculate $20 billion in a semiconductor factory exterior of Columbus, Ohio, the White House mentioned Friday as President Biden tries to spur U.S. manufacturing to combat a worldwide chip shortage.

The White House mentioned the brand new facility will create 7,000 building jobs and three,000 everlasting jobs.

“Today’s announcement is the latest marker of progress in the Biden-Harris administration’s efforts to ramp up domestic manufacturing for critical goods like semiconductors, tackle near-term supply chain bottlenecks, revitalize our manufacturing base, and create good jobs here at home,” a reality sheet mentioned.

The international shortage in semiconductors impacts merchandise such as vehicles, smartphones, medical gear and vacuum cleaners.

The Biden administration mentioned the shortage knocked a full proportion level off the U.S. gross home product final 12 months and harm U.S. autoworkers, who confronted furloughs and manufacturing shutdowns on account of pandemic disruptions at Asian semiconductor factories.

The administration mentioned the U.S. have to be extra reliant on home manufacturing. It boasted the semiconductor trade has invested greater than $80 billion within the U.S. because the starting of 2021.

“The United States used to lead the world in global semiconductor manufacturing. But in recent decades, the U.S. lost its edge — our share of global semiconductor production has fallen from 37% to just 12% over the last 30 years,” the administration mentioned in a reality sheet. “The Biden-Harris administration has been working around the clock with Congress, our international allies and partners, and the private sector to expand U.S. chip manufacturing capacity, bring back critical American manufacturing jobs, address the chip shortage, and ensure we are not exposed to these disruptions again.”

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