The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.
President Joe Biden speaks at a campaign event at El Portal restaurant Tuesday, March 19, 2024, in Phoenix. with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.plans to talk up the investment on Wednesday as he visits Intel's campus in Chandler, Arizona, which could be ain November’s election.
Ohio Sen. Sherrod Brown, a Democrat up for reelection this year, stressed that his state would become"a global leader in semiconductor manufacturing” as Intel would be generating thousands of jobs. Ohio has voted for Trump in the past two presidential elections, and Brown in November will face Republican
The Intel CEO said on a call with reporters that he would like to see a sequel to the 2022 law in order to provide additional funding for the industry.
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