North Columbus News

Federal CHIPS Act funding is set to boost Intel's semiconductor manufacturing projects in New Albany, Ohio. The Biden Administration announced nearly $8 billion in CHIPS Incentives Program funding, with $1.5 billion allocated for Intel's $28 billion project in the state. This investment aims to expedite the construction of two semiconductor factories in Licking County, creating 3,000 full-time jobs and over 7,000 construction jobs.

The CHIPS Act was signed into law by President Biden in August 2022 to enhance semiconductor research and manufacturing within the U.S., reducing dependence on foreign supply chains. Semiconductors are vital for technologies ranging from smartphones to medical devices, making this project crucial for economic competitiveness and national security.

Ohio has become a significant player in reviving U.S. leadership in semiconductor production. The success of Intel's project is attributed to state and local leaders' advocacy efforts, marking a historic moment for Ohio's future in the semiconductor industry.

Ohio REALTORS, alongside business groups, advocated for this funding by co-signing a letter urging President Biden to expedite the release of CHIPS Act funds. The letter stated: "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 are essential for modern technology and advanced innovations like renewable energy and artificial intelligence. The COVID-19 pandemic exposed vulnerabilities in global chip supply chains, leading to widespread disruptions across industries. The CHIPS Act aims to address these challenges by fostering a robust domestic manufacturing center.

Intel’s project is expected not only to create jobs but also attract further investments and innovation in Ohio. The state is poised to become a hub for high-tech industries with new supply chain opportunities and a skilled workforce driving its economic transformation.