Intel Corporation and the U.S. Department of Commerce announced up to $8.5 billion in direct funding for Intel through the CHIPS and Science Act to advance Intel’s projects across the country, including two new leading-edge chip factories at the Ohio One campus in New Albany. Intel also increased its planned investment to $28 billion, up from the $20 billion it announced in 2022. The local project is expected to create 3,000 Intel jobs, 7,000 construction jobs, and support tens of thousands of additional suppliers and partners jobs. CHIPS Act funding aims to increase U.S. semiconductor manufacturing and research and development capabilities, especially in leading-edge semiconductors.

According to New Albany Mayor Sloan Spalding, CHIPS funding represents an important step in our nation’s effort to substantially increase domestic manufacturing of computer chips. “This is a national defense issue as much as it is an economic issue. American military hardware, along with the computers and electronic goods that fuel our economy, should be powered by American-made chips,” he said. “Here in Ohio and New Albany, specifically, we are excited about the future with Intel locating here and their commitment to build the Silicon Heartland.”

“Today is a defining moment for the U.S. and Intel as we work to power the next great chapter of American semiconductor innovation,” said Intel CEO Pat Gelsinger. “AI is supercharging the digital revolution and everything digital needs semiconductors. CHIPS Act support will help to ensure that Intel and the U.S. stay at the forefront of the AI era as we build a resilient and sustainable semiconductor supply chain to power our nation’s future.”