that it will invest over $20 billion to build two new fabs in Ohio, USA. As part of the IDM 2.0 strategy, this investment will help increase production capacity to meet growing market demand for advanced semiconductors, power Intel’s next-generation products, and meet the needs of foundry customers.
“Today’s announcement is monumental news for the state of Ohio,” said Ohio Gov. Mike DeWine. “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, and talent are part of Ohio’s DNA, and we are proud that chips – which power the future – will be made in Ohio, by Ohioans.”
From this statement, we can see that Mike DeWine’s excitement is beyond words. It’s easy to understand, though, as this is the largest single private sector investment in Ohio’s history, and the project is expected to create 3,000 Intel jobs and 7,000 construction jobs during the initial phase and during construction, and support tens of thousands of jobs that have long served local suppliers and partners.
Intel CEO Pat Gelsinger sees this as a landmark event that will help build a more resilient supply chain and ensure reliable access to advanced semiconductor technology for years to come. Intel also pledged to spend an additional $100 million on partnerships with educational institutions to support research initiatives in the region by creating talent pipelines.
Located in Licking County, Ohio, just outside Columbus, the project covers nearly 1,000 acres and will house eight fabs in total. After the full expansion, the total investment in the entire semiconductor base in the next ten years may reach $100 billion, making it one of the largest semiconductor bases in the world. The first two fabs will start construction in late 2022 and are expected to start production in 2025, which will be Intel’s first new manufacturing base in the past 40 years.