Intel Secures CHIPS Act Funding for Ohio Semiconductor Expansion
By Anastasia Kotkovskaya, Manager of Advocacy and Research, Ohio REALTORS®
After over two years of anticipation, federal CHIPS Act funding is finally heading to Ohio, marking a milestone for Intel’s semiconductor manufacturing projects in New Albany. The Biden Administration announced nearly $8 billion in CHIPS Incentives Program funding, with $1.5 billion earmarked for Intel's $28 billion project in Ohio. This investment is set to accelerate the construction of two cutting-edge semiconductor factories in Licking County, creating 3,000 full-time jobs and over 7,000 construction jobs.
The CHIPS Act, signed into law by President Biden in August 2022, aims to bolster semiconductor research and manufacturing in the U.S. and reduce reliance on foreign supply chains. With semiconductors essential to technologies ranging from smartphones to medical devices, this project will strengthen both economic competitiveness and national security.
Ohio has emerged as a key player in re-establishing the U.S. as a leader in semiconductor production. The success of Intel's project, a result of the advocacy of state and local leaders, is a historic moment for the state, paving the way for a promising future in the semiconductor industry.
Ohio REALTORS®, along with a coalition of business groups, played a role in advocating for this timely funding. Their efforts, including co-signing a letter to President Biden urging the administration to expedite the release of CHIPS Act funds, demonstrate the power of collective action in shaping economic policy. The letter shared with Congress:
We, the undersigned organizations, write to implore you and officials across your Administration to take decisive steps ensuring that federal funds made available by the Department of Commerce, the Department of Defense, and others across the federal government be delivered to their intended recipients—entities who have applied for federal grants or entered into contractual partnerships to manufacture semiconductor chips in the United States—in the next thirty days.
Semiconductors power nearly all modern technology, from everyday devices like smartphones to advanced innovations in renewable energy and artificial intelligence. The COVID-19 pandemic revealed vulnerabilities in global chip supply chains, with shortages causing widespread disruption across industries. The CHIPS Act addresses these challenges by fostering a robust domestic manufacturing center.
Intel’s project will not only create jobs but also attract additional investments and innovation in Ohio. The state is now poised to become a hub for high-tech industries, with new supply chain opportunities and a skilled, booming workforce driving its economic transformation.
