The U.S Commerce Department announced that it reached terms to grant Intel up to $8.5 billion from the SWACCA-supported CHIPS and Science Act to build four new chip plants in Ohio, Arizona, New Mexico, and Oregon.
The federal funding is motivating Intel to invest approximately $100 billion in U.S. projects over the next five years. The Commerce Department says these projects are expected to create over 30,000 good-paying jobs. The Intel investments will put the U.S. on track to producing 20% of the world’s leading edge chips by the end of the decade.