Intel is sinking tens of billions into U.S. chip manufacturing capacity.
The company announced its latest project on the outskirts of Columbus, Ohio Friday — marking a huge investment into the region. This 1,000-acre parcel will break ground on two new semiconductor facilities later (or “fabs”) later this year, in an effort to meet growing demand and combat the ongoing shortage pinching several industries, including the automotive sector.
At the moment, Intel’s is the largest single private sector investment in Ohio’s history, and promises to add up to copmany 3,000 jobs to the region on its “mega site”, as well as 7,000 construction jobs to build it out. While construction is expected to start this year, production will not come online until at least late 2025.
Intel is currently the second largest chip manufacturer globally, behind South Korean leader Samsung Electronics. Both governments and private sector companies in the U.S. are working to address a heavy reliance on Asian producers for chips, and some lawmakers are pushing Congress to provide $52 billion funding strengthen the country’s position in semiconductor manufacturing through the United States Innovation and Competition Act (USICA).
Semiconductor supply is going to be even more crucial to the industry moving forward as electric cars gain momentum, and modern cars generally take on more and more features like semi-autonomous driving systems. To see that in action, just check out one of the latest EVs, the Rivian R1T, below:
