Chip Manufacturing

Lip-Bu Tan will begin serving as the company's CEO, effective March 18, according to a news release.

The federal law, signed by former President Joe Biden in August 2022, included billions of dollars to bring semiconductor manufacturing back from overseas to sites in Ohio and other states.

The chip manufacturer said it had invested $3.7 billion through last year, and is committed to spending another $3.2 billion in work that is already underway in a letter to the Ohio Department of Development.

The Biden administration plans on reducing part of Intel's $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations.

President Joe Biden announced in March that nearly $20 billion in CHIPS Act money would be spread across Intel projects in Licking County, Arizona, Oregon and New Mexico.

President Joe Biden's administration made the announcement as construction continues on the $20 billion New Albany plant.

Intel officials, who want to build a massive chip processing facility in Central Ohio, said passage of that federal bill is crucial for them.

The bill would support domestic manufacturing of semiconductor chips that power the nation's smartphones, cars, computers and medical equipment.

Republican and Democratic officials in Ohio are calling on Congress to pass a new version of what was the CHIPS Act to subsidize semiconductor plants.

Building out a domestic computer chip manufacturing industry has become a priority after pandemic issues revealed supply chain glitches. Today on All Sides we consider the benefits and the cost of a domestic chip industry for central Ohio and the nation.